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Dunlop Tyre Brand Sold To Sumitomo Rubber Industries By Sports Direct

Dunlop Tyres

United Kingdom’s biggest sports goods retail group, Sports Direct, has sold Dunlop tyre brand to Sumitomo Rubber Industries (SRI) for USD 137.5 million.

The sale of the tyre brand to the well-known Japanese tyre and rubber firm was confirmed by the company. The major reason furnished by the company for the sell-out was the lack of ‘bandwidth’ to expand and handle the brand.

In an official statement Sports Direct stated that it has sold the ‘Dunlop brand’ to the Japanese tyre company Sumitomo Rubber Industries for USD 137.5 million. Dunlop is famous for its ‘Green Flash’ tennis trainers and tennis racquets, which were used by the prominent tennis stars such as John McEnroe, Steffi Graf and Martina Navratilova.

The brand had been receiving complaints from some of its high-class suppliers, and on the other hand, Sports Direct Founder and CEO Mike Ashley wanted to push his firm towards the luxury end. As a result, the sale was pretty imminent.

Sumitomo Rubber Industries already has got decades of relationship with Dunlop, as it had took-over its European tyre business in the year 1980.

The Japan-based tyre manufacturer besides making tyres for passenger cars, rally cars and other vehicles, is also into the manufacturing of sports goods which consists of balls, racquets, bags and shoes.

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Ankit verma

Author: Ankit verma

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