Sporthyra is innovating again. The Swedish sporting goods chain was founded four years ago as a retailer where customers could rent equipment for shorter or longer periods of time. Thanks to this unique concept, the company has managed to break through on the Swedish market despite fierce competition from established or new strong players like Stadium, XXL or Intersport.
Now, Sporthyra has signed an agreement with the Aggregate Media Fund, a Swedish company that invests in small and mid-size businesses in Sweden and Norway through media advertising as a form of venture capital. Aggregate Media Fund's investments are made from funds jointly owned by 15 of Sweden's largest media companies.
Aggregate Media Fund will provide Sporthyra with access to its marketing channels including magazines, outdoor advertising, radio, TV and online media. The deal will give Sporthyra marketing space worth several millions of Swedish kronor over the next two years. In return, Aggregate Media Fund will become a shareholder in Sporthyra.
The sports chain also plans to expand the number of its physical stores from six to 15. It plans to cover the entire Nordic region, with Norway as the next country on the list.
