Pentland Restructures, Plans to Open Creative Hub in London
LONDON — Pentland Brands, owner of labels including Speedo and Ellesse, has restructured operations, and plans to put a bigger focus on product, digital, consumer data and analytics.
As part of Pentland’s mission to simplify and to create a structure “that reflects the global and digital nature” of the organization, the company said plans to lay off around 90 people.
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Pentland, which has around 1,400 employees worldwide, did not give further details about the job losses.
The British sports, clothing and footwear group also plans to set up a creative hub in Farringdon, north London. The business changes are expected to be in place by the end of the third quarter, with the new London hub opening in early 2024.
Chirag Patel, chief executive officer of the privately owned Pentland, said the company is growing, with 2023 revenue and profit expected to exceed pre-pandemic levels.
“Our plans will accelerate this growth, and position us at the forefront of digital innovation and consumer engagement at a moment when our brands are more important than ever in helping people to live more active and healthy lives,” Patel said.
He described the new hub as “a collaborative space with a strong culture and community, a creative place where our teams and our brands can thrive, grow and deliver on our purpose to pioneer brands that make life better.”
Pentland said it is making the changes so that it can operate like a global business, “with skills in the right locations and a simplified organization designed to drive further growth. This includes investing in global product innovation capabilities and providing all brands with cutting-edge expertise in new product development.”
For Speedo specifically, Pentland wants to create a “global product engine” in the U.S., while brand leadership and marketing operations will remain in the U.K. Speedo global product will be based out of the Speedo North America Hub in California.
For the Canterbury brand, the global business will be led from the brand’s original home in New Zealand, while teamwear and licensed properties will be run from the U.K.
Pentland Brands owns a variety of sports, outdoor and lifestyle brands, including Speedo, Berghaus, Canterbury, Endura, Ellesse and Mitre.
It is the U.K. footwear licensee for Kickers and has a joint venture partnership for Lacoste footwear. It is also the majority owner of the British retailer JD Sports Fashion plc, which is quoted on the London Stock Exchange.
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