Dick's Wins Auction for Sports Authority Brand
Dick's Sporting Goods, the largest U.S. sporting goods retailer, said last week that it was the successful bidder in the auction for the intellectual property of bankrupt competitor Sports Authority with a bid of $15 million. The intellectual property of Sports Authority includes its e-commerce website, SportsAuthority.com, a loyalty program with 28.5 million members, and a list consisting of 114 million customer files, according to an advertisement for the intellectual property auction.
Total Retail's Take: One company's pain is another company's gain. Such is the climate in the ruthlessly competitive retail industry. Dick's wisely saw and capitalized on the opportunity to grab still valuable assets from the Sports Authority business, including store leases and intellectual property, as it looks to further bolster its position as the leading sporting goods retailer.
