Sports Direct has bought an upmarket west London gym as part of an effort to broaden its business.
The Printworks Health Club & Spa in Olympia has a 20-metre swimming pool, as well as a sauna and a beauty spa, making it markedly different from the 30 gyms the retailer already owns, none of which are in London.
Sports Direct, which is led by Newcastle United boss Mike Ashley, has pledged to “revolutionise the market” by opening as many as 200 cut-price gyms that charge just £5 a month.
In contrast Printworks charges between £73 and £92 a month for standard membership which includes access to sister operation the Weybridge Healthclub & Spa in Surrey.
Sports Direct entered the gym market with the purchase of the LA Fitness chain last year, all of which have now converted to the Sports Direct Fitness brand. The company has also opened three stores with gyms attached – in Aintree and St Helens, Merseyside, and Keighley in West Yorkshire.
The latest acquisition comes amid a wave of activity by Sports Direct, which is scheduled to release half-year trading figures on Thursday.
In September, the retailer bought a 19% stake in online specialist Findel. It has since become embroiled in a boardroom battle with the Kitbag owner after trying to put Sports Direct employee Ben Gardener on its board.
In October, Sports Direct bought specialist retailer Direct Golf out of administration after a tussle for control with founder John Andrew. That month the retailer also took full control of Irish department store Heatons, of which it already owned half.
