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Fiba Retail, a subsidiary of Fiba Group, has acquired a 50% stake in Sportive, a leading sports retail chain, through İş Private Equity, a venture capital arm of İş Bankası Group.
Sportive, which has shown rapid growth as one of Türkiye's top 360-degree active sports companies, has completed the process of transferring 50% of its shares to Fiba Retail.
Continuing to expand its accessibility through online sales and physical stores, Sportive contributes to the development of sports and athletes by collaborating with mass sports organizations, sports federations, and elite athletes.
Fiba Retail and İş Private Equity Combine Forces with Sportive!
With this partnership, Fiba Retail aims to double the number of Sportive stores, currently at 31, and expand into more cities. Additionally, the growth strategy includes adding new brands to the portfolio and expanding the range of Sportive-branded products. New store openings and expanding existing ones will also create new employment opportunities, particularly for young people, in the sales, marketing, and operational sectors.
"This partnership will be an important step for Türkiye’s sports retail sector."
Murat Özyeğin, Chairman of Fiba Group, emphasized the importance of building strong partnerships and shaping growth strategies with a perspective that includes stakeholders and the national economy. He stated:
“As Fiba Group, we are deepening our presence in the sectors we operate in and taking innovative and strategic steps in retail. With a turnover of approximately $150 million through our brands, we aim to reach $500 million in the next seven years with new investments and brands. Sports retail, which has achieved double-digit growth in Türkiye over the past four years, has also been a focus for us, and we are seizing opportunities in this area. In 2023, the total textile market size reached nearly 412 billion TL, with the sportswear sector making up 17% of that at 70.6 billion TL. We are very excited to manage Sportive, one of Türkiye’s leading active sports brands, with the expertise of two powerful groups, Fiba Retail and İş Bankası Group. Together, with Fiba Retail’s experience in fashion retail and İş Private Equity’s investment vision, we are confident that Sportive will become a leader in active sports retail in Türkiye. This partnership will not only be a significant step for Fiba Retail and İş Private Equity but also for Türkiye’s sports retail sector.”
Özyeğin added, "We highly value the inclusion of Sportive, a brand with a wide range of sports brands, into Fiba Retail’s portfolio. With Sportive, our retail group will strengthen and diversify its presence in both fashion and sports retail. I believe this collaboration will greatly contribute to the sustainable growth of Sportive. Our goal is to provide the best service to our customers while also contributing to Türkiye’s economy by creating more employment opportunities."
“Sportive’s Growth Journey Will Accelerate”
Hakan Aran, General Manager of İş Bankası, celebrated the 100th anniversary of the bank and highlighted its commitment to contributing to the national economy through investments in its subsidiaries. Aran stated:
"Through our subsidiaries, we have been part of more than 300 companies across various industries, from glass manufacturing to insurance, textiles to port management. İş Private Equity, with its ‘smart capital’ approach, aims to provide financing and added value to medium-sized companies, particularly in high-growth sectors. With the investment in Sportive, we are confident that it will continue its growth journey even more rapidly, leveraging the experience and infrastructure of Fiba Retail. This collaboration will contribute to the development of sports habits across all age groups in Türkiye’s retail sector and sports world."
Significant Contribution to the Development of Active Sports
Sportive, with its wide range of products and professional sports equipment, collaborates with various sports federations and athletes. With nearly 90 retail stores across Türkiye, Fiba Retail currently represents three major international brands and manages multiple channels through its digital platforms. The synergy and expertise of both groups are expected to make a significant contribution to the development of active sports in Türkiye.