Lids reportedly set to exit the UK

US sportswear retailer Lids is believed to be on the verge of exiting the UK market just three years after opening its first stores there.

It has been reported by Drapers that the company is currently in negotiations with landlords to end its leases, with all UK stores from the brand expected to close upon agreements.

Lids debuted in the UK in December 2021, and has since expanded its physical retail presence to 20 stores. The company declined to comment on the matter when asked by Drapers.

Meanwhile, for the brand’s parent company, Fanatics, the UK has remained an important market, evidenced by speculated plans to open its first standalone store in the region.

While details of the store are still unclear, Retail Week said a site in London was being eyed for the launch, making it the first time Fanatics ventures into the high street, after previously and exclusively targeting stadiums and sports venues for retail locations.

The opening will further build on Fanatics’ presence in the UK, a market it entered in 2016 after acquiring competitor Kitbag.

It has since continued to cement its base in the region through various partnerships, including with the Football Association (FA), a deal that it recently expanded, now allowing it to hold the e-commerce rights of the official online England store, as well as physical shops during England home games.