21sportsgroup Secures Financing for Further Growth / New Investment in the Millions Secures Working Capital Financing Until 2016

MANNHEIM, GERMANY--(Marketwired - Nov 6, 2013) - Sporting goods company 21sportsgroup continues to experience strong growth and, in a financing round, just managed to secure the corresponding working capital required until 2016. The new investment secures 21sportsgroup's competitive advantage through strategic cash reserves and boosts profitability, as the industry-standard manufacturer discounts can be used more comprehensively in the pre-order process.

With a cutting-edge store concept and an e-commerce selection that's successful throughout Europe, 21sportsgroup markets the full range of running, cycling, and triathlon sporting goods. "With more than 50 dedicated employees at our headquarters and logistics center in Mannheim, we now provide our German and European customers with an extensive range of products in our online shops: 21run.com, 21cycles.com, and 21streetwear.com," explains Jörg Mayer, founder and CEO. "Ambitious runners, cyclists, triathletes, and recreational athletes value our comprehensive range and exceptionally fast delivery times thanks to high inventory levels."

CFO Michael Burk adds, "The constant growth in demand and revenue results in challenges in terms of financing, which can only be tackled through a solid foundation of working capital. We therefore take pride in the fact that 21sportsgroup managed to secure sufficient funds for the next three years of growth in the successful financing round we just closed."

www.21sportsgroup.com

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