NEWS
Turnover Is Vanity Profi t Is Sanity Cash Is Reality
Angling Direct and Fishing Republic announce full results B
oth Angling Direct and Fishing Republic have announced their
fi nancial results for 2017. Angling Direct has posted an operating profi t of £900,000 for the year. Fishing Republic has posted an operating loss of £2.235m. What is apparent is that the pair of Stock Exchange funded giants are rapidly changing the retail landscape. “Between them they have about 10 per cent market share,” says an industry insider, “but they’re simultaneously ruining the entire tackle trade for everyone!” Combined, AD and FR turnover
around £40m. The entire UK tackle trade is estimated at having a value of circa £400m. And this is the problem. No one wants to go ‘on the record’ to speak up on the subject of Angling Direct and Fishing Republic. They’re either too scared of losing the eggs they have in their basket… or you are desperate to get at least one egg in the basket. So what do we know? We know that Fishing Republic is now focusing its efforts online. The fi rm’s business model is to cut loss making stores and go for business online. Makes sense. We also know that Angling Direct has a huge wage bill, widely rumoured to be approaching £500,000 a month for its 240 staff. Angling
6 | Tackle & Guns | June 2018
Direct is still on the acquisition trail, with T&G understanding it is close to announcing the purchase of a large retailer in the NW of England, and another in the Midlands. Have we seen this all before?
Wasn’t it called… Sports Direct? While no one was willing to go ‘on the record’... here are some quotes from some notable fi gures in the trade...
Guess Who!?
Large brand owner specialising in coarse fi shing products: “Angling Directs model is unsustainable. It will
be sold on by the end of the year.”
Large carp brand boss: “We’ve told them both they’re getting no discount. If they want to do business with us, they can. It’s their choice.”
An infl uential retailer: “We’re being lied to. Lied to by the manufacturers who are supplying these companies. There will
be nothing left of the trade soon and with no shops, they’ll be less and
less people fi shing. They’re signing their own death sentences.”
Another large carp brand: “We’re
seriously considering selling direct. Angling Direct in particular is
demanding too much. Yes, we’re selling more through them, but making less. What’s the point?”
A global supplier: “This will end in tears.”
A large bait company: “Thankfully these companies haven’t dabbled in own brand bait yet. But we all
know it’s going to happen.”
A national fi shing tackle marketeer: “For as long as tackle manufacturers are under pressure to hit sales targets and not
profi t (usually the ones not run by the owner), they will continue to supply both of the retailers in an effort to satisfy their senior management.”
Anyone out there want to go ‘on the record’? Drop us a line at:
nick@tandgmagazine.com
www.tandgmagazine.com
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