Restructuring at Pentland Brands will ‘accelerate growth’
Pentland Brands – owner of Speedo, Berghaus, Canterbury, Endura, ellesse and Mitre – is restructuring and reorganising its brands, which it said will help it “work together as one global business”.
The group will set up a new central London Hub, located in Farringdon, but the changes will mean about 90 job losses.
For Speedo, there will be a “global product engine” in the US, while brand leadership and marketing operations will remain in the UK.
For Canterbury, the global business will be led from the brand’s heartland in New Zealand, while its teamwear and licensed properties will be run from the UK.
Chirag Patel, CEO of Pentland Brands, said: "We’re a growing business with 2023 revenue and profit expected to exceed pre-pandemic highs. Our plans will accelerate this growth and position us at the forefront of digital innovation and consumer engagement, at a moment in time when our brands are more important than ever in helping people to live more active and healthy lives.”
"With our new hub in the heart of London, we will create a collaborative space with a strong culture and community. A creative place where our teams and our brands can thrive, grow and deliver on our purpose to pioneer brands that make life better."
The business changes are expected to be in place by the end of Q3 2023, with the new central London Hub opening in early 2024.
Image: Rendering of Pentland's new London office
