In its three years of operation, Padel Pro Shop has reached €10 million in annual sales, and its latest annual results for 2023 represent a year-on-year increase of 95 percent. For the new year, the online retailer’s objective is to achieve another increase in annual sales, this time of 60 percent, to €16 million.
As CEO Dionisio Ugalde tells CMDsport, the Padel Pro Shop is looking to unseat Spain’s online king, Pádel Nuestro – which, as we reported last month, has raised its forecast for 2023 annual sales to €65 million. E-commerce accounts for some 55 percent of this, or about €36 million.
Padel Pro fired a shot across Pádel Nuestro’s bow in its Christmas advertising, whose slogan, “Pádel is yours,” was a play on the king’s name, literally “Our Pádel.” It was a “humorous wink,” explains Ugalde, adding: “Let’s see what we can do in two more years.”
Pro Padel Shop was founded in 2020 by parent company Floorball Super Shop. With the lockdowns, business dried up for the parent’s twin banners, Balonmano Pro Shop and the eponymous Floorball Super Shop (devoted to the indoor sports of hand- and floorball).
According to CMD’s perusal of Spain’s mercantile register, Super Shop’s annual sales went from €450,938 in 2019 to €382,762 in 2020. In 2021, with Pádel Pro Shop up and running, overall sales rose to €2.19 million. The following two years brought in €5.12 million and the aforementioned €10 million. Padel Pro Shop now accounts for 90 percent of the total.
Unlike Pádel Nuestro, which has been opening physical stores all over the place, Padel Pro Shop has no plans to venture offline. “The structural costs are high,” explains Ugalde, and “it seems simpler to focus on being purely online.” The retailer has a customer base of about 45,000. A revamped website went up about three months ago. For now, two languages are available, Spanish and English, but German, Italian and Portuguese are scheduled for the next month.
Foreign sales accounted for 40 percent of the total for 2023. According to Ugalde, most of these came from Italy, Belgium and the Netherlands – but Germany is on the rise.
Racquets account for 60 percent of sales, balls and accessories for 20 percent, and shoes and bags for the final 20 percent.
