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Update on Portuguese SportZone

Industry- & Retail Organizations

In response to the Bike Europe publication on the hampered internationalization strategy of the Portuguese sports retail chain SportZone, parent company Sonae Distribucaio denies

Update on Portuguese SportZone

LISBON, Portugal – In response to the Bike Europe publication on the hampered internationalization strategy of the Portuguese sports retail chain SportZone, parent company Sonae Distribuição denies any change in their earlier announced expansion scheme.

“The expansion plans for SportZone remain unchanged and in line with the announcement made last March, when we presented our strategic guidelines” states Pedro Salazar, spokesman of Sonae Distribuição.

“Currently we run 11 SportZone stores in Spain, of which 5 were already opened in 2009. Until the end of this year, 5 new stores are scheduled to open. To reinforce the internationalization strategy, we also emphasize the anticipation of Zippy’s (children’s clothes and accessories), entry in Spain, which already has 4 stores and plans to open 5 more still this year.”

SportZone’s plans for Turkey have been put on hold. The opening of its first store in Istanbul has been postponed as the real estate project in which the store is located, has been stopped. Spokesman Salazar underlines that: “The decision to postpone opening of the first store in Istanbul was taken after several market research enquiries and a simple conclusion came out: the investment could reveal itself premature if taken in that period. Nevertheless, this decision was taken in the beginning of the current year, i.e., before the internationalization objectives were announced.”

 

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