Apollo acquires 30 percent stake in TradeInn

Fashion United

03-07-2025

Madrid – Spanish sportswear e-commerce platform TradeInn welcomes a new minority partner. US investment firm Apollo Global Management has acquired a 30 percent stake, previously held by Spanish private equity firm Suma Capital. French sporting goods retailer Decathlon had also expressed interest in this stake.
Reports surfaced in late July 2024 regarding Decathlon's interest in acquiring Suma Capital's 30 percent stake in TradeInn. Suma Capital's intention to divest was evident. TradeInn's founder, majority shareholder, and chief executive officer, David Martin, initially viewed Decathlon's potential investment positively. He believed it could boost TradeInn's international growth through synergies with Decathlon's logistics network and diversify its brand portfolio. However, by the end of 2024, Martin confirmed that Decathlon would not become a partner. It was deemed not the most suitable partner for TradeInn's next growth phase.
On July 2, it was announced that Apollo Funds, through its Apollo Hybrid Value investment arm, would acquire Suma Capital's 30 percent stake, along with stakes held by other minority shareholders. According to La Vanguardia, the deal is estimated at around 200 million euros. Apollo will hold just over 30 percent of TradeInn's capital. David Martin remains chief executive officer and majority shareholder, retaining approximately 70 percent ownership. He will lead TradeInn's next chapter, aiming for significant global expansion with Apollo's support, with the goal of becoming Europe's leading online sports retail platform. David Martin, founder, majority shareholder and CEO of TradeInn. Credits: TradeInn.
"We are deeply grateful to Suma Capital for their support over the past years, which has been instrumental in executing our growth strategy," said Martin. "We are now delighted to embark on the next chapter of our journey with Apollo, whose recognition of our potential and commitment to our vision will help propel TradeInn towards its next phase of expansion."
"TradeInn has built a leading sports e-commerce business in Europe with a clear track record of continued strong growth," said Javier Valle, a London-based principal at Apollo and member of the Hybrid Value Fund team. "We are excited to support David and his team in this new phase of expansion." Offer of over 3.5 million products and sales exceeding 550 million euros
Founded in 2008 by David Martin in Girona, where its headquarters remain, TradeInn began as a small online diving shop. In 2015, Suma Capital's investment significantly boosted its operations. This partnership fuelled strong performance over the past ten years. TradeInn closed its 2024 fiscal year with 554 million euros in sales, a 27.65 percent year-over-year increase.
TradeInn has established itself as a global leader in online sports retail, with approximately 85 percent of sales generated outside Spain. It offers over 3.5 million products from over 12,500 brands across 18 specialised sports categories, serving customers in over 190 countries.
Since Suma Capital became a shareholder in 2015, under Martin's leadership, TradeInn's sales have increased over tenfold. This growth has been accompanied by a significant expansion of its sports and lifestyle product portfolio and a warehousing capacity increase to over 30,000 square metres.
"As outgoing shareholders of TradeInn, we are very proud of the successful partnership that has driven the company's considerable growth," said Enrique Tombas, managing director of Suma Capital. "We are especially grateful for the excellent leadership of the chief executive officer, the strength of the management team, and the dedication of all TradeInn employees. We are convinced that they will continue to generate strong growth and sustained profitability in the coming years."
In summary Apollo Funds will acquire 30 percent of TradeInn, replacing Suma Capital as a minority partner.
Decathlon expressed interest in the stake, but TradeInn decided it wasn't the right fit for its growth strategy.
TradeInn aims to expand globally with Apollo's support, aiming to become the leading online sports retailer in Europe. This article was translated to English using an AI tool.
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