Tennis-Point Spain and its CEO, Miquel Just, agreed on Feb. 29 to sever the contract they signed exactly four years earlier, according to CMDsport.
It was Just who urged Tennis-Point’s entry into Spain, with a first store in Mataró. Five more stores followed, in Barcelona, Valencia, Madrid, Alcorcón and Alfafar – as did a pro shop at the Emilio Sánchez Academy in El Prat de Llobregat and an e-commerce site.
Tennis-Point Spain generated €14 million in total sales during its most recent full year, ended on Sept. 30, 2023. Offline sales were up 4.5 percent year-on-year, while online sales were flat.
About his plans, Just said only that he will continue to work in racquet sports. Tennis-Point’s parent is seeking a successor to him.
The German parent
As we reported back in November, Tennis-Point GmbH was pursuing normal operations and keeping its stores open despite its insolvency and that of its parent company, Signa Sports United (SSU). In January, according to CMDsport, Germany-based Orlando Capital and various individual investors – among them Tennis-Point’s founder, Christian Miele – struck a deal with SSU to acquire Tennis-Point GmbH.
According to Orlando Capital itself, this deal was completed on Feb. 1 and covers “all assets of Tennis-Point GmbH, the shares in the European sales companies and the business operations in the US.” The most recent annual sales for these business units, Orlando continues, exceeded €190 million, and three-quarters of them derived from e-commerce. Tennis-Point has six own brands and “partnerships with all relevant sporting goods manufacturers of equipment, clothing and accessories,” which yield a selection of some 20,000 items.
According to CMDsport, Miele and Stefan Salzer remain aboard as CEO and Managing Director, respectively.
