Pentland Brands reported it initiated a new program to “simplify the way its business is organized” to focus on product, digital, consumer data, and analytics; however, it means laying off 90 employees.
Pentland’s brands include Speedo, Berghaus, Canterbury, Endura, Ellesse, and Mitre, employing around 1,400 people worldwide. It provided no details on where the job cuts would come from in the reorg.
Pentland said in a statement that the reorganization “reflects the global and digital nature of its growing organization,” the establishment of a new central hub in Farrington, London being central to the initiative. “The business plan is centered around working together as one global business, having the skills in the right locations and building a simplified organization designed to drive further growth; this includes investing in global product innovation capabilities and providing all brands with cutting-edge expertise in new product development,” said Pentland Brands.
For Speedo, Pentland said its plan calls for creating a “global product engine” in the U.S., while brand leadership and marketing operations would remain in the UK. In Canterbury, Pentland’s global business will be led from its headquarters in New Zealand. The brand’s teamwear and licensed businesses would be run from the U.K.
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.”
Patel continued, “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.”
Pentland forecasted the change would go into effect at the end of the third quarter, with its central London Hub opening in early 2024.
Photo courtesy Pentland Brands
