Sports Direct has acquired an undisclosed stake in young fashion mini-chain Pulp, as it plans to pump millions of pounds into the online arm of Cruise, a luxury indie it acquired in 2011.
Young fashion retailer Pulp has six stores in locations such as Edinburgh, Glasgow and Manchester, and stocks brands including Criminal Damage, David & Goliath and Iron Fist.
Sources told Retail Week’s sister title Drapers that Pulp, listed as being owned by brand supplier GLD Group, will expand both its online presence and store portfolio following the investment from Sports Direct.
Sports Direct is also thought to be preparing to spend millions of pounds on Concept by Cruise, the luxury etail arm of mini-chain Cruise, which it bought a majority stake in two years ago. It is said to be planning to take on luxury ecommerce sites such as Matchesfashion.com.
The stake in Pulp is the latest retail investment for Sports Direct. In the past month it has acquired a majority stake in outdoor sports group Yeomans and bought troubled outdoor company Gelert out of administration for an undisclosed sum.
Sports Direct declined to comment.