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Sports Direct sells Dunlop brand to Japan's Sumitomo

Sports Direct is selling the rights to tennis brand Dunlop to Japan's Sumitomo Rubber Industries for $137.5m (£112m) in a bid to become "the Selfridges of sports retail".

The company said that the sale was part of its strategy to focus on its core UK business and develop relationships with third party brands, rather than owning them outright.

It said the senior management team didn't have the "bandwidth" to both develop and manage international labels such as Dunlop, which makes equipment for golf, tennis, squash and badminton.

The company said that the sale was part of its strategy to focus on its core UK business and develop relationships with third party brands, rather than owning them outright.

It said the senior management team didn't have the "bandwidth" to both develop and manage international labels such as Dunlop, which makes equipment for golf, tennis, squash and badminton.

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