SportPursuit, a flash sales website for premium outdoor and sports gear currently selling mainly in the U.K. and Germany, announced its partnership with bd-capital, a pan-European, operationally managed private equity firm established in 2019 in London. According to a company statement, bd-capital’s investment, whose terms were not disclosed in a detailed manner, is intended to help accelerate SportPursuit’s expansion in the U.K., Germany and beyond, while further enhancing its offering to its brand partners.
More than 1,000 brands are already working with SportPursuit. The company had a turnover of £53.3 million (€62.4m-$74.4m) in the financial year ended last Nov. 30, with 65 percent of the revenues generated in the U.K. and 15 percent in Germany.
SportPursuit is not accessible without a membership, and it is this data collection that is central to the offering. “Using our proprietary technology, SportPursuit recognizes the behavior of its customers and ingeniously tailors its offers to each individual’s interests,” says the company. For brands, SportPursuit says it has created a complementary sales channel that does not compete with traditional e-commerce or the brands’ own DTC channel and does not rely on Google Shopping, Amazon or eBay.
SportPursuit was founded in 2011 by a group of friends as an “inspiration-led e-commerce platform for sports and outdoor enthusiasts” that brings new offers to its members every day. SportPursuit’s e-commerce technology has helped others become online retailers, such as Eurosport in 2018, although its online store is now no longer active. SportPursuit also has a subsidiary, North Lane Group, which in 2018 acquired Vulpine, a high-end British cycling apparel brand founded in 2012.
Following the investment by bd-capital, the management team and founders remain invested in the company. In addition to Adam Pikett, co-founder of SportsPursuit, who will continue to lead the company as CEO, Graham Elton, operating partner at bd-capital, will join the team as chairman.
In 2015, SportPursuit closed a £9.5 million (€11.1m-$13.2m) Series C investment round from Scottish Equity Partners (SEP), Grafton Capital and Draper Esprit. It had earlier raised £5m (€5.8m-$6.9m) from, among others, Alex Saint, a co-founder of Secret Escapes, and Alex Chesterman, founder of Zoopla.