2XU acquires UK distributor
World leading high performance sports apparel brand, 2XU, has announced the acquisition of its United Kingdom (UK) based distributor, Triathlon Consultants Ltd (TCL Sports) from January 1, 2015. Following a successful eight year relationship with the reputable Reading based company, Australian owned 2XU has elected to invest directly in the UK and will spearhead all business operations under a new regional entity 2XU UK Ltd from the New Year.
The move supports 2XU’s ambitious global growth strategy which has included a 70% uplift year on year, with wholesale sales in excess of $100m. This latest acquisition occurs just 12 months after 2XU and Lazard Australia Private Equity announced a new significant minority investment from L Capital Asia, a private equity fund sponsored by LVMH Moët Hennessy Louis Vuitton S.A. (LVMH), echoing the company’s goal to dominate technical sports apparel markets across the globe.
Heading up 2XU’s UK division will be Regional General Manager James Wilson.
“We’re delighted to welcome James into the newly created role of 2XU General Manager – UK and Ireland,” said 2XU CEO Kevin Roberts.
“An experienced brand builder with over 18 years’ experience in the lifestyle, sports and fashion markets, James has held regional and global roles for leading retail brands including Lacoste, Kangaroos, Hunter and most recently, Vice President of global markets for Canterbury of New Zealand.”
Primed for the high performance challenge ahead, Wilson is equally enthused by the next chapter.
“This is an amazing opportunity for a category leading brand,” said Wilson.
“After meeting the founders and team in Australia, I was in no doubt about 2XU occupying the most exciting place in the sports industry right now. There’s so much passion, support and commitment to product – I can’t wait to support the team here and get the message out.”
Aidan Clarke, 2XU Director and Co-Founder is buoyant with the brand’s UK prospects.
“We’re extremely proud of the momentum generated thus far. Many people are discovering our exceptional performance products, and wondering why they hadn’t heard of us earlier,” said Clarke.
“We joke about being a 10 year old overnight success. We have the immediate challenge of expanding beyond the current UK consumer niche of serious elite and endurance athletes, to broader categories of run, gym and general fitness. In markets like Australia we’re almost a household name – give us a few years and I’m sure the UK market will respond with equal aggression to our quality and performance.
With the high performance pedigree now flowing to broader exercising communities, consumers are starting to understand why everyone from the United States Navy Seals to NBA teams are buying 2XU products. From elite ballerinas and power lifting athletes to football teams and group exercise gurus, 2XU has staked deserved claim in sports arenas to high streets alike. To realise our goal of broadening 2XU’s distribution and consumer appeal across the UK, James Wilson is absolutely the man for the mission.”
Obsessed by innovation, 2XU utilises cutting edge fabrics and technology in unison with world-leading research partners including the Australian Institute of Sport and Royal Melbourne Institute of Technology. The brand is renowned for its best-selling Compression collection and other high performance lines including; Triathlon, Cycle, Run, Swim and Fitness.
By Press release