SIGNA Sports United acquires Tennis Express and becomes a leading online tennis platform in the United States
BERLIN–(BUSINESS WIRE) – SIGNA Sports United (SSU), the leading e-commerce and technology platform for sports, today announced a binding agreement to acquire Tennis Express, a leading online tennis retailer in the USA. The closing of the acquisition is subject to certain conditions. Along with the Midwest Sports acquisition which closed in April, SSU and its leading global tennis destination, Tennis-Point, have now established a leading online tennis platform in the U.S. Both acquisitions position Tennis-Point for accelerated growth and extends the reach of the SSU platform to the benefit of partner brands and digital communities.
Tennis has seen a sharp increase in participation amid the COVID-19 pandemic. According to the American Tennis Association (USTA), four million new players in the United States purchased a racquet for the first time in 2020, representing a 22% increase in attendance.
“We see a significant opportunity to replicate our successful strategy as a European tennis platform in the US market, which enjoys a strong increase in participation while remaining fragmented and underserved from an e-commerce and engagement perspective. community, ”said Stephan Zoll, CEO of SIGNA Sports United. “The addition of strong players like Tennis Express accelerates our expansion in the United States and the potential to create value for SSU and the American tennis ecosystem at large.
“We are happy to see that SSU is growing so rapidly in the US market. The breadth of their tennis platform capabilities brings significant benefits to the entire ecosystem, ”said Hans-Martin Reh, Global Managing Director – Racquet Sports for Wilson Sporting Goods.
Founded by Brad Blume and his partner out of a shared passion for tennis, Tennis Express started with a single physical store and has since grown into a specialty retailer serving customers nationwide with 90% of its revenue coming from digital channels. Tennis Express’s 15,000-square-foot flagship experiential supermarket and warehouse in Houston, Texas features a full-size indoor tennis court and has become a top destination for tennis fans across the state.
The acquisition of Tennis Express will complement the acquisition of Midwest Sports which closed in April. Both companies will leverage SSU’s platform for marketing, dynamic pricing, CRM, and logistics.
“Tennis-Point has a long history of growing tennis in Europe, which has made it the number one destination for online tennis in the world, and we intend to do the same in the United States,” said Sascha Beyer , future president and president of Tennis-Point, North America. “Brad and his team have long championed grassroots tennis and built a successful and profitable business around their passion. We look forward to working together to achieve these common goals. ”
Brad Blume, who has agreed to join the Tennis-Point management team as President of Tennis Express, said: “We founded Tennis Express with the vision to inspire players and support the tennis communities that we serve. I couldn’t be happier that we join the world-class SSU and Tennis-Point teams to help fuel the realization of this vision. Today is a proud day for the Tennis Express team. ”
ATP and Tennis-Point recently announced a multi-year partnership that sees the global online retail platform become the official racquet sports retailer for the ATP Tour through 2025.
About SIGNA Sports United
SIGNA Sports United, headquartered in Berlin, Germany, is the leading, rapidly growing and profitable sports technology and commerce platform in the Cycling, Tennis, Outdoor and Team Sports categories with over 4 million active customers and more 300 million visitors per year. SSU brings together brands such as Fahrrad.de, Bikester, Probikeshop, Campz, Addnature, Tennis-Point, Outfitter and Stylefile. Over 1,000 partner brands, over 500 independent offline retailers and over 15 million members of the digital sports community are connected to the SSU platform. For more information visit www.signa-sportsunited.com.
Tennis-Point is the tennis subsidiary of SIGNA Sports United and the world’s leading tennis e-commerce and technology platform. The company is based in Europe, Germany. With 14 online stores in the local language and 28 connected physical stores, Tennis-Point is by far the leading company in all of its main European markets. Tennis-Point employs more than 400 people. For more information visit www.tennis-point.com.
About Tennis Express
Tennis Express is a tennis specialty retailer based in Houston, Texas. For more than two decades, Tennis Express has welcomed customers from around the world to its state-of-the-art retail store and website, and to turn the pages of its seasonal catalogs. Tennis Express was named “Retailer of the Year” by the Tennis Industry in RSI magazine (pro / specialty category) and by Babolat. For more information visit www.tennisexpress.com.