The NQ institution was founded by Steve Sanderson and Nigel Lawson
Iconic Northern quarter independent shop Oi Polloi is set to close. Owners of the store, retail giant JD Sports, are planning a rebrand for the premises.Oi Polloi was founded by Steve Sanderson and Nigel Lawson and sells a menswear range from brands such as Polo Ralph Lauren, Keen and Patagonia.But the Manchester Evening News understands that the founders are currently in talks with JD Sports over the future of the Oi Polloi brand.
The retail giant declined to comment when approached by the MEN. The news comes after JD Sports completed the sale of 14 of its brands to Mike Ashley's Frasers Group in a deal worth almost £50m. The owner of House of Fraser and Sports Direct has now snapped up JD Sports' interests in Base Childrenswear, Choice, Clothingsites , Cricket, Giulio, Kids Cavern, Missy Empire, Nicholas Deakins, Pretty Green, Prevu Studio, Tessuti , Scotts and Watch Shop as well as Topgrade Sportswear - including Get The Label.
The plan also includes double digit revenue growth, market share in "key regions" and operating margin. JD Sports is also targeting capital expenditure of between £500m and £600m every year with 50% to 60% focused on store expansion in "underpenetrated markets" with 250 to 350 new JD stores per year.
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