BERLIN — Continuing to strategically expand its online portfolio, the Austrian Signa Sports Group has acquired Stylefile, a German-based online specialist for sneakers and streetwear.
Stylefile was founded in 2000, and had its origins in the graffiti magazine of the same name. In 2016, the group generated sales of more than 50 million euros, and serves about 500,000 active customers in more than 30 countries. The assortment of more than 20,000 products includes brands such as Nike, Adidas, Puma and New Balance. Under the umbrella of the Signa Sports Group, Stylefile will be joined with Outfitter, an online seller in soccer and team sports.
The Stylefile company also operates the outdoor online shop Big Tree, which will be closely networked with the Signa Sports Group’s online specialists Addnature and Campz, expanding the Austrian group’s market share in the outdoor segment.
Signa Sports Group, owner of Karstadt Sports, has been developing into a leading online sports retail platform in Europe and is eyeing more than 500 million in online sales for 2018. The Group holds majority shares in Internet Stores (cycling and outdoor), Tennis Point (tennis) and Outfitter (team sports and leisure). Signa Sports said this latest acquisition is an important “strategic step in the growing ath-leisure market.”
The multichannel player, a division of Signa Holding, which owns the German Karstadt department store chain, reportedly has plans to go public. A Signa Sports Group initial public offering could be in the offing in the second half of this year, and industry observers estimate it could raise between 800 million and 1.2 billion euros.