Padel Nuestro strengthens its leadership with the acquisition of Definetely Time2Padel group
Padel Nuestro increases its presence in the world padel market with the recent acquisition of the Definetely Time2Padel group, owner of the Time2Padel, Padelmanía, and racket brand Mystica websites. An operation, encompassed within its strategy of consolidation and international expansion, which places the specialist group of padel articles in a hegemonic position within the sector.
The Definetely Time2Padel group owns several of the most relevant padel brands, among which we find:
- Time2Padel, one of the reference E-commerce in recent years, with a strong online positioning and seven language versions (Spanish, Italian, Portuguese, English, French, Swedish and Finnish).
- The Padelmanía online store, owned by the group since 2017, with activity exclusively online since then, and which has experienced rapid growth.
- Mystica. Brand of padel items that includes among its product portfolio rackets, specialized clothing and accessories.
In its nine years of existence, the company has positioned itself as one of the main players in the offline sale of padel, with eleven physical points of sale (one owned and ten franchised). In Spain it has two physical stores under the Time2Play brand, three direct-selling Corner-Stores in Italy, another three in Sweden, and one in Chile, Paraguay, and Dubai.
Padel Nuestro strengthens its internationalization process
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After the recent acquisition, Grupo Padel Nuestro gains muscle in order to continue with the internationalization strategy, which started five years ago with its first store outside of Spain (Madeira, 2016).
As of today, the company has four of the leading E-commerce stores in the sector (Padelnuestro.com, Streetpadel.com, Time2Padel and Padelmanía) as well as 70 physical stores spread over Spain, Andorra, Belgium, Portugal, Italy, Countries Netherlands, Sweden, Chile, Paraguay and Dubai.
Despite having established a wide network of stores on three continents, the group assures that there is still a long way to go: “We think about accentuating our focus on the international market, with our eyes on strengthening our presence in Europe, and open up to new markets such as the United States, Latin America and the Middle East ”.
For now, Padel Nuestro has already planned for the end of the first half of 2022 its landing in Germany, the United Kingdom and France. A growth that has also been driven by the growing international interest in the brand, of which they comment: ”Without having looked for it, we have had several requests to open new stores in Africa and the Middle East”
A multi-brand group, 4 successful brands
2021 has been a year of profound changes for Padel Nuestro, with its acquisition in August by the investment fund Backspin Capital Investments, the creation of Pro Padel Group as a developer company of the padel brands Siux, Wingpadel, Oxygen and now Mystica, and the acquisition of Definetely Time2Padel with which this year closes.
This union of brands specialized in padel items has Siux as the standard bearer of its portfolio, which, the company intends to place in the top-4 of the main manufacturers’ brands worldwide together with Wingpadel, Orygen and Mystica. As stated by the group: ”Our intention is to allocate all available resources to the complete consolidation of that leadership.” For this, Pro Padel Group intends to market the products of the four brands mentioned in E-commerces, other padel stores, multisport stores, clubs, etc. Currently, this division serves more than 400 points of sale.
In the same way that the Pro Padel Group supplier division (Grupo Padel Nuestro) has a clear multi-brand vocation, the group’s retail division seeks the same purpose: “In principle, it is expected that the various brands-label that we now encompass will continue to operate separately. , since the objective is that each one of them satisfy a specific type of consumers ”. In addition, they add that: ”this will be reflected in each of the four e-commerce stores that we will govern, whose primary objective will be to offer the best shopping experience to users and give the highest added value to brands.”
Record turnover in 2021
It is no coincidence that the company has attracted international attention, since in the last financial year 2020-2021 it has managed to double the billing forecasts, going from 20 million invoiced at the end of 2020, to obtaining an estimated turnover of € 42 million at closing of 2021, without taking into account the running division of the brand.
In relation to StreetProRunning, the group’s running division, it estimates a turnover increase of 30% compared to 2020, with an estimated turnover between 12 and 13 Mill. €
Regarding the group’s running division, from Padel Nuestro they point out that “we will not abandon it, but we are not going to dedicate the same efforts or resources to it as those that we will dedicate to padel. Our ‘core’ business is padel”.
In aggregate, the Padel Nuestro group’s global billing forecast for this 2021 is, according to the sources consulted, around 55 million euros. Some results that justify the group’s efforts to consolidate its position as a benchmark in the world of padel and establish a global brand positioning.