Decathlon to Divest 30% Stake in China Business Unit
(Reuters) - French sporting goods retailer Decathlon has started a process to sell about 30% stake in its China business, with a deal potentially valuing the unit at about $1 billion or more, Bloomberg News reported on Tuesday.
The company is working with an adviser and has attracted initial interest from potential investors, the report said citing people familiar with the situation.
It may decide against a sale or consider other options to help it expand in China, the report added.
The company responded to Reuters' request for comment saying that it remains committed to long-term growth in China. However, it did not specifically comment on the potential stake sale.
Last month, the privately-owned company appointed company veteran Javier Lopez as CEO, taking over from Barbara Martin Coppola, who had led the company for three years.
The company, known for big-box stores that sell everything from tents and bicycles to running shoes, last month reported stronger sales growth for 2024 and said its brand-focused transformation would continue this year.
Decathlon had 68 more stores worldwide in 2024, for a total of 1,817 stores in 79 countries.
(Reporting by Kritika Singh and Rajveer Singh Pardesi in Bengaluru; Editing by Leroy Leo)
