Sports Direct International plc has agreed to sell its Dunlop brand to Sumitomo Rubber Industries Ltd. for $137.5mn, The Daily Telegraph reported on 27 December.
The British firm expressed its intention to become the “Selfridges” of sports retail, and as such would focus on its core UK business and developing relationships with third parties. As part of the deal, Sports Direct will be granted a royalty-free licence to continue using the Dunlop brand name.
Sports Direct owner Mike Ashley bought Dunlop Slazenger in a 2004 deal reportedly worth at least £40mn.