Sports Direct reveals stake in Iconix

By

Sarah Ahssen

Published
Jan 6, 2016

Three months after acquiring an 18.9% share in Findel, owner of Kitbag, the specialist in football jersey replica sales, Sports Direct International is now showing an interest in US company Iconix Brand, whose results in the third quarter 2015 turned out to be disappointing.

The Sports Direct International group is controlled by Mike Ashley, also the proprietor of Newcastle United Football Club, and has acquired by proxy an 8.97% share in Iconix, which owns total or partial rights to some thirty brands including Umbro, Lee Cooper, Danskin, Badgley Mischka, Starter, Buffalo and Peanuts. 

Sports Direct, which does not have voting rights on Iconix's board, is thus drawing nearer to British sports outfitter Umbro, of which it was a majority shareholder in 2008 before it was acquired by Nike.