JD Sports, the retail giant known for its aggressive acquisitions, has made another purchase in the industry, this time acquiring cult clothing retailer Oi Polloi. The news of the acquisition was revealed through a filing with Companies House, showing that JD Sports CEO Peter Cowgill is now a director of the Manchester-based business. While the news was not officially announced by JD Sports, it was first reported by The Business Desk.
Oi Polloi, an independent menswear brand, was founded over 20 years ago by Steve Sanderson and Nigel Lawson, although they are no longer involved with the business. Oi Polloi sells its own clothing label as well as a range of popular brands, including Beams Plus, APC, Berghaus, Converse, Levi’s, and Stone Island.
JD Sports, with over 2,400 stores globally, is known for its large-scale acquisitions, such as Finish Line, DTLR, and Shoe Palace in the US. This recent purchase of Oi Polloi is considered relatively small in comparison. Earlier this year, JD Sports raised over £460 million through a share placing, providing the company with a significant amount of capital for acquiring new businesses. Since December of last year, JD Sports, in which Pentland holds a majority stake of 55%, has agreed on acquisitions worth over £1 billion.
The acquisition of Oi Polloi comes amidst speculations about the future of JD Sports CEO Peter Cowgill. There are rumors that he is considering stepping down from his day-to-day control of the firm, although he has denied these rumors. It is believed that the company may appoint a new CEO to work alongside Cowgill as he transitions into a non-executive chairman role. However, Cowgill himself has stated that he remains fully committed to ensuring the long-term success of JD Sports.
Cowgill has been with JD Sports for 17 years and has played a crucial role in the company’s growth and profitability. He initially became executive chairman when the company was struggling to make profits, and his tenure has seen exponential sales growth. His association with the company dates back to 1981 when his accountancy firm worked for it under its original name, Mossley Sports. Despite the rumors, Cowgill’s dedication to JD Sports remains unwavering.
Useful links:
1. [The Business Desk – Article on Oi Polloi Acquisition](https://www.business-live.co.uk/retail-consumer/jd-sports-oipolloi-retail-acquisition-21528800)
2. [JD Sports Official Website](https://www.jdsports.co.uk/)
