Mitihoon – (October 2, 2024, Bangkok) CRC Sports, a subsidiary of Central Retail —the largest retail company for sportswear and sports equipment in Thailand and operator of the sports retail chain Supersports – has announced its acquisition of a majority stake in Rev Edition Co., Ltd. This company is a prominent importer and distributor of top sports performance & lifestyle brands, including Hoka, Saucony, Goodr, 2XU, CEP, Qiaodan, XTEP, Kailas, Champion, Aonijie, National Geographic, Teva, Oakley, as well as operator of REV RUNNR, the leading running specialty store. With a 75% stake now secured, CRC Sports aims to double its retail footprint in Thailand and expand into Malaysia, Vietnam, and Singapore, further solidifying its position as the leader in Performance Sports Retail in Thailand and striving for one of market dominance in Southeast Asia.
Ms.Suthatip Manoonpol, Head of Growth and Partnership – Central Brand and Specialty Group, a subsidiary of Central Retail, provided an overview of the acquisition of a majority stake in Rev Edition. She noted that this move aligns with the vision and mission of Central Brand and Specialty Group, which are dedicated to sourcing products, brands, and concepts that address the diverse needs of consumers across fashion, lifestyle, and sports. “Sports and health are no longer trends; they are essential components of consumers’ lifestyles, and the market is experiencing robust growth. As the market leader in retail and wholesale in Thailand, Central Retail recognizes the growth potential in the sports sector, valued at over 35 billion baht and showing promising upward trends. This growth is spearheaded by CRC Sports, the largest retail and distribution holding company for sports apparel and equipment in Thailand. We operate Supersports, the first retail sports store in the market, and serve as the exclusive distributor and licensee for leading global sports brands, maintaining our position as the top sports retailer for over 27 years. We are now poised for further growth with the acquisition of Rev Edition, a company specializing in the running category and sports brands, particularly in the performance and lifestyle segments that demonstrate high growth potential. With an investment of over 468 million baht for a 75% stake, CRC Sports and Rev Edition will leverage combined strengths to drive the growth of Central Retail’s sports products and brands to new heights.”
Mr. Alexandre Hummel, President of CRC Sports Co. Ltd., a subsidiary of Central Retail, stated: “The acquisition of a majority stake in Rev Edition is a pivotal step in advancing the next phase of success for CRC Sports. This move will drive our business growth, broaden our customer base, and enhance our specialized expertise, solidifying CRC Sports’s position as the leading sports retailer in Thailand. We aim to increase our market share by doubling the number of multi-brand stores like Supersports and REV RUNNR, together with brands’ stores in Thailand, while also expanding into Malaysia, Vietnam, and Singapore to capture market share and establish ourselves as one of the top players in Southeast Asia.”
He added: “CRC Sports is committed to solidifying its leadership in the performance sports retail market by developing a comprehensive business ecosystem. This strategy encompasses specialized expertise across all sports categories, effective management of a diverse range of leading sports brands, and the cultivation of a vibrant sports community, along with extensive sales channels across multiple platforms. Our advantage as a multi-brand sports store, offering the widest selection, will help foster a sustainable business ecosystem. Additionally, we share a passion and a common vision for leveraging the power of sports to enhance lives and unlock the immense potential within the industry. As pioneers in the Thai sports market, Rev Edition is the perfect partner, aligned with our shared objectives.”
“Distribution rights for various brands will remain under CRC Sports’s management, while Rev Edition will retain its administrative rights for brands such as Hoka, Saucony, Goodr, 2XU, CEP, Qiaodan, XTEP, Kailas, Champion, Aonijie, National Geographic, Teva, and Oakley. Combined with existing brands like Reebok, Columbia, LFC, Merrell, Speedo, Wilson, and Umbro, CRC Sports will expand its distribution portfolio in Thailand to encompass a total of 20 brands. This acquisition will enable CRC Sports to enhance its position as a leading provider of a comprehensive sports shopping experience.”
Rev Edition Co., Ltd. is a leading importer and distributor of sports performance and lifestyle brands, as well as fashion lifestyle products. Founded in 2000, it was the operator of Thailand’s first Nike flagship store and has pioneered the REV RUNNR sports store, specializing in equipment for running enthusiasts.
Mr. Pornsak Chinawongwatana, CEO of Rev Edition Co., Ltd., remarked: “With over 24 years of experience in the sports industry, Rev Edition operates under the belief that performance and success in sports require not only dedication and training but also access to high-quality equipment. We focus on sourcing the finest sports gear from around the globe to enhance athletic performance. This vision aligns seamlessly with the commitment of CRC Sports, a part of Central Retail, to being a leader in Performance Sports Retail. Joining this group presents a significant opportunity for Rev Edition and its brands to accelerate growth and further realize our strategic goals.”
“Currently, the sports trend is experiencing continuous growth, broadening its appeal and increasingly emphasizing enhanced physical performance. We are observing a significant shift in customer behavior, with average spending on Performance Sports products rising by approximately 15% compared to 2023. This data is derived from REV RUNNR’s member base, which has now surpassed 330,000 and continues to grow steadily,” added Pornsak.
Mr. Len Lertsumitkul, Head of strategy and Business Excellence – CRC Sports Co. Ltd., a subsidiary of Central Retail, stated: “Rev Edition stands out as a leading expert in the Thai sports brand market, excelling in both Lifestyle and Performance Sports, especially in the running segment, where it has gained considerable trust among customers. Under CRC Sports’s management, Rev Edition will preserve its unique identity, core values, and expertise, while also leveraging the extensive network of Central Retail that spans the country and beyond.”
“Currently, Rev Edition operates a network of 159 locations across Thailand and Malaysia, featuring REV RUNNR stores, brand shops, in-store counters (shop in shop), and various multi-brand outlets, as well as online platforms. These channels are poised for expansion both domestically and internationally. CRC Sports plans to open additional eight stores, including one Supersports location and seven more for brands such as LFC, Columbia, Merrell, and Reebok. Furthermore, Rev Edition is set to launch 19 new locations in the fourth quarter of 2024, which will include Thailand’s first NATIONAL GEOGRAPHIC LIFESTYLE STORE. Plans also include expanding both multi-brand and brand stores by over 20 locations, including those in Malaysia, by 2025. On the CRM front, Rev Edition will utilize The1 database to enhance the shopping experience and gain access to Central Retail’s ecosystem, enabling seamless inventory management and store operations.”
This strategic partnership will accelerate Rev Edition’s growth, while also empowering CRC Sports to leverage its expertise in the specialty market. Together, they will strengthen their position as the leading player in Thailand’s sports market and prepare to expand into the regional market.
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