According to anonymous sources cited by CMDsport, Grupo Padel Nuestro is in late-stage negotiations with various operators in the pádel market and other investors. The Spanish group hopes to raise capital chiefly for international expansion.
According to the report, the negotiations follow on the heels of failed negotiations, from the second half of 2020 to about April of this year, to sell a majority stake to Signa Sports United, owner of Tennis-Point. Shortly thereafter, Signa announced an international expansion of its own in this rising racquet sport, to be channeled through a dedicated-banner, Padel-Point, and focused on e-commerce.
Padel Nuestro enjoyed a fruitful 2020, raising its sales by 62 percent to €37.5 million, with €24.5 million from pádel and €13 million from running. And the boon has continued into 2021. In the first four months, pádel more than doubled its revenues to a record of €12 million. CMDsport’s sources now project the division’s annual sales to reach €36 million, for an increase of about 47 percent. At present, the retailer is selling about 30,000 paddles per month. For the running division, which operates as StreetPro Running, CMDsport’s sources project an even greater increase, with sales exceeding €50 million.
The online channel has doubled its sales, while the company’s physical stores have increased theirs by 40 percent. The pádel boom, while enduring in Spain, has been spectacular abroad, and Padel Nuestro has accordingly set its sights on Italy, Sweden and Portugal, where it getting more and more franchises.
CMDsport’s sources observe, moreover, that pádel revenues would have been even higher during the first quarter of this year if it were not for shortfalls in supply. Padel Nuestro managed to recover some ground here with its own brand, Siux, which ranks in the top five for international sales. But the product shortages have slowed the expansion in franchises.
Six stores opened in the first quarter, and four or five more are slated to open in the second one, depending on the available supply. Padel Nuestro will also be opening ten to 15 stores in the Express format at pádel clubs. These carry less stock than franchises but offer the full catalog.
The latest Express store – the 14th overall, and the first to open abroad – is not located in a club, but in Marino, a port on the outskirts of Rome. Its opening has brought the total number of points of sale to 47, with 24 franchises in Spain, three in Italy, three in Portugal and one in Sweden.