Frasers Group is preparing to relaunch Wiggle and Chain Reaction less than one month after it rescued the brands from administration.
The retail group, which owns Evans Cycles, snapped up the brand rights and intellectual property to Wiggle and Chain Reaction in a deal understood to be worth less than £10m.
The company will relaunch the etailer’s websites this week and is in the process of creating commercial partnerships to enhance and expand its in-house brand lines – Dhb, Nukeproof and Vitus Bikes – through development, sales, licensing, and international distribution opportunities, Bike Biz reported.
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The group’s managing director of cycling and wheeled goods Russell Merry said: “Wiggle and Chain Reaction are well-established names among riders in the UK and across Europe and the acquisition of both brands is consistent with our ambition to become the no.1 Sporting Goods retailer in Europe.
“It also brings with it the opportunity to work with respected partners through the highly admired, award-winning product lines that Wiggle and Chain Reaction had built.
“We are excited to explore partnerships with suppliers or distributors looking to expand their offering or an organisation looking to get a foothold in the market by leveraging some established names.”
Wiggle collapsed in October and continued to trade during the administration process, with FRP Advisory handling the insolvency. Around 447 staff members are understood to have lost their jobs following the acquisition by Frasers.
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