Pentland Brands restructures business in bid to drive further growth

Pentland Brands, the sportswear group behind Speedo, Canterbury and Ellesse, has outlined plans to simplify the business as it looks towards accelerating further growth throughout the company.

As part of its plan, Pentland said it would be simplifying the way its business is organised, with around 90 people expected to leave the organisation to steer focus towards product, digital, consumer data and analytics.

Among its efforts, the company will be investing in global product innovation capabilities and providing its brands with expertise in new product development.

For Speedo, this will mean the creation of a global product engine in the US, with brand leadership and marketing operations to remain in the UK.

Meanwhile, for Canterbury, the business will be led in the brand’s home country of New Zealand, while its teamwear and licensed properties will be run from the UK.

Such business changes are expected to fall into place by the end of Q3 2023.

New creative hub in London set to open early 2024

In a release, Chirag Patel, CEO of Pentland, said: "We’re a growing business with 2023 revenue and profit expected to exceed pre-pandemic highs.

“Our plans will accelerate this growth and position us at the forefront of digital innovation and consumer engagement, at a moment in time when our brands are more important than ever in helping people to live more active and healthy lives.”

Alongside its restructuring scheme, the firm also stated that it was planning to establish a new central London Hub near Farringdon station, which it is expecting to open in early 2024.

Patel added: "With our new hub in the heart of London, we will create 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."