The Spanish specialty retailer Padel Nuestro has achieved worldwide retail domination in the sport of pádel, following its acquisition over the past two weeks of Definetely Time2padel, along with its Time2padel and Padelmania banners and its Mystica brand of paddles. The terms and the price paid remain undisclosed.
The company, which became the property of Backspin Capital in August, has told CMDsport that it wants each banner and webshop to operate independently, so as best to “satisfy a specific typology of consumers.”
Padel Nuestro itself operates a total of 59 directly owned and franchised stores. Of these, 38 are in its home country of Spain – especially in the autonomous communities of Andalusia, Madrid and Catalonia – and the 21 others are split between Italy (7), Sweden (7) , Portugal (4), Andorra (1), Belgium (1) and the Netherlands (1). There are two e-commerce operations: Padel Nuestro and Streetpadel.
The company is now adding to this network Time2padel’s only directly managed store and ten franchises: six of them in Italy, two in Spain and the rest spread between Chile, Paraguay and Dubai. There are also three Time2padel corner shops at pádel clubs in Italy, Sweden and Chile. The banner’s e-tail operations are conducted in seven languages: Spanish, Italian, Portuguese, English, French, Swedish and Finnish.
In total, then, Padel Nuestro has amassed 70 physical stores and four webshops, all of them specialized in pádel. But ambitions are running higher. The company told CMDsport that it intends to “devote all available resources to the complete consolidation” of its market leadership. Specifically, “we’re planning to focus even more closely on the international market, with our sights set on Europe, the U.S., Latin America and the Middle East.”
By the first half of 2022 the company expects to have entered Germany, the U.K. and France. There have also been unsolicited requests for franchises in Africa and the Middle East.
Moreover, after Blackspin Capital’s investment, Padel Nuestro has been developing a new division, called the Pro Padel Group, explicitly intended to promote pádel brands, in collaboration with some 400 points of sale. By next year the division hopes to situate one of these brands, Siux, in the fourth rank among the world’s pádel manufacturers. Other brands include Vision, Win Padel and Padel Nuestro’s own freshly acquired Mystica.
The company is projecting revenues of €42 million for 2021, not including those generated online from its Streetprorunning division. In 2020, the company’s pádel division generated less than half of that, or about €20 million. The company plans to preserve its running division but will not be “devoting the same efforts or resources” to it as for pádel. Running is projected to generate sales of €12 to €13 million this year, up from last year’s level of around €10 million. This would put total revenues for this year at about €55 million.
