SNIPES expands business to Central and Eastern Europe
Signing with Polish retailer “Distance” confirmed.
After the expansion into nine Western European countries and the USA, SNIPES SE is now entering the Central and Eastern Europe market. In Poland, the Cologne-based sneaker & streetwear retailer is acquiring Distance S.A., the Polish sneaker retailer which operates 31 stores in all major cities of the country and a Europe-wide online store. The signing has already taken place, approval by the antitrust authorities is still pending. The parties have agreed not to disclose the terms of the deal.
Sven Voth, CEO and founder of the multichannel company comments: “SNIPES is not yet present in Eastern Europe. Poland is an important platform for us to gain a foothold in Eastern Europe. The acquisition opens up all important locations in the country and is a logical and exciting step. For us, this means great future opportunities and growth potential, as well as new impulses for our culture.”
With locations in all big Polish cities such as Warsaw, Krakow, Gdansk, and Lodz, Distance is one of the most relevant national retailers in Poland. The previous shareholder and Managing Director Waldemar Więcek will remain with the company as a Country Manager and says about the acquisition: “I am always interested in the further development of the brand. The takeover means that the successful work of the last 18 years in Poland can be continued.”
With the expansion into the growth market of Central and Eastern Europe, the SNIPES SE store network will increase to a total of 440 stores worldwide as of the closing.
About SNIPES
WE ARE SNIPES!
Inspired by hip-hop, streetball, dance, and action sports, the opening of the first SNIPES store in 1998 laid the foundation for a movement that now connects young people around the world. In line with the outfitter principle, the SNIPES online store and over 400 SNIPES outlets in Europe and the USA offer up-to-the-minute streetwear pieces and sneakers alongside the classic timeless looks of brands such as adidas, Jordan, Karl Kani, Nike, Reebok, and Vans. What really sets our range apart are our own SNIPES collections and successful collaborations with other streetwear brands plus exclusive sneaker models. What’s more, SNIPES has remained true to its deep roots in the global street culture community, working closely with key figures from the scene, and supports talented athletes and creative artists.
About Distance
Distance has been dynamically operating on the Polish market since 2003, where it runs 31 stores and an online store in 20 European countries. The assortment includes footwear and clothing for women, men, children, and teenagers. Distance offers brands such as adidas, Jordan Brand, Nike, Tommy Hilfiger, and The North Face.