Sport-Tiedje, the German fitness equipment retailer, has reported a big sales increase of 57.3 percent for 2016 as compared to 2015. The growth stemmed from the strong performance of newly acquired subsidiaries, Laidir Leisure from the U.K., which owns the Powerhouse Fitness chain of fitness equipment stores, and Fitshop P.V. from the Netherlands, which boosted group sales from €69 million in 2015 to €108.6 million last year.
Laidir Leisure was acquired in 2015, while the figures of Fitshop where included for the first time in 2016. On a pro-forma basis, assuming that both subsidiaries had been included in the 2015 accounts, Sport-Tiedje would have recorded sales of €97.6 million, resulting in an increase of 11.2% for 2016.
Aside from its acquisitions, the company moved boldly in 2016, opening new stores in Wiesbaden (Germany), Eindhoven (Netherlands), Bern and Lausanne (Switzerland). A new cooperation program with Karstadt Sports saw the company add concessions for the sale of fitness equipment in 21 branches of the German sporting goods chain.
With 68 shops and concessions in Western Europe, the Sport?Tiedje group claims to be the largest specialist retailer of home fitness equipment in the region and a strong competitor in the international online mail-order business. It ended the past year with 43 shops in Germany, including the Karstadt concessions. It also had three stores in Austria and three in Switzerland, plus six Fitshop stores in the Netherlands, 11 Powerhouse Fitness stores in the U.K., one T-Fitness store in Belgium and another one operating under the same name in Denmark. The group also had online stores addressing customers in France, Spain, Italy, Finland, Norway and Sweden. A web store in the Czech Republic went on stream in May 2016.
Sport-Tiedje is looking for further growth in 2017, particularly in the brick-and-mortar segment. It is also seeking to extend into markets currently only covered online. The company is planning to open its first store in Poland and add another store to the two it has already opened this year in the U.K.