Footasylum
| Public limited company | |
| ISIN | 🆔 |
| Industry | Retail |
| Founded 📆 | 2005 |
| Founders 👔 | David Makin |
| Headquarters 🏙️ | Rochdale, Greater Manchester, England, UK |
Number of locations | 57 stores (3 April 2023)...[1] |
Area served 🗺️ | |
| Products 📟 | Clothing Sportswear Accessories |
| Members | |
Number of employees | |
| 🌐 Website | footasylum |
| 📇 Address | |
| 📞 telephone | |
Footasylum is a British retailer of footwear, clothing, and accessories with over 50 stores[1] across the United Kingdom and is headquartered in Greater Manchester.
Footasylum's first store opened in Cheshire in 2005[2]. The company quickly expanded, opening stores in other major cities in the United Kingdom. The company was listed on the Alternative Investment Market (AIM) and in 2017, Footasylum went public on the London Stock Exchange[3].
Founded by David Makin, who had set up the JD Sports chain with his business partner John Wardle in 1981. Wardle joined Makin at Footasylum in 2008 and became its chief executive, then chairman from 2015 until 2018. He was succeeded as executive chairman by Barry Bown, the former chief executive of JD Sports.
In 2019, Footasylum was acquired by JD Sports Fashion for £90 million[2]. The acquisition was blocked by the Competition and Markets Authority (CMA) in 2021[4]. In 2022, Footasylum was acquired by Aurelius Group[5], a German private equity firm. The acquisition was valued at £37.5 million[6]
Competition and Markets Authority (CMA)
In 2020, the CMA decided to block JD Sports Fashion's acquisition of Footasylum[7]. The CMA found that the acquisition would have resulted in a substantial lessening of competition in the UK market for sports retail.
The CMA's decision was based on a number of factors, including the fact that JD Sports Fashion and Footasylum were both major players in the UK sports retail market. The CMA also found that the acquisition would have resulted in JD Sports Fashion having a dominant position in the market for sports retail.
JD Sports Fashion appealed the CMA's decision[8], but the appeal was dismissed by the Competition Appeal Tribunal[9]
Sponsorship
In 2016 Footasylum signed an exclusive sponsorship deal with Frank Warren and BoxNation[10]. The brand also has partnerships with a number of football clubs including Salford City FC[11], Motherwell FC[12] and Dundee FC[13]
References
- ↑ 1.0 1.1 Footasylum Store Locator
- ↑ 2.0 2.1 Kollewe, Julia (18 March 2019). "JD Sports to buy Footasylum for £90m" – via The Guardian.
- ↑ UK, FashionNetwork com. "Footasylum valued at £171m in IPO". FashionNetwork.com.
- ↑ "What now for JD Sports' takeover of Footasylum?". Drapers Online.
- ↑ [https://www.just-style.com/news/company-news/deal-news/jd-sports-closes-footasylum-chapter-with-gbp37-5m-sale-to-aurelius/ Hannah Abdulla ]
- ↑ Singsit, Jangoulun (2 August 2022). "JD Sports to sell Footasylum to Aurelius Group for £37.5m".
- ↑ Janiaud, Alex (6 May 2020). "CMA blocks JD Sports acquisition of Footasylum". Investors' Chronicle. Retrieved 5 April 2023.
- ↑ Armitage, Jim (2020-11-13). "JD Sports' takeover of Footasylum can proceed". Evening Standard. Retrieved 2023-04-05.
- ↑ "CMA blocks JD Sports' Footasylum takeover for second time". Yahoo News. Retrieved 2023-04-05.
- ↑ Richard Bell
- ↑ Salford City FC
- ↑ Football Trade Directory
- ↑ Dundee FC
References
This article "Footasylum" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Footasylum. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
