Angling Direct PLC Market Research Report

Background

Overview

Angling Direct PLC is the UK's largest specialist fishing tackle and equipment retailer, offering a comprehensive range of products through its extensive network of retail stores and online platforms. Established in 1986, the company has grown to become a leading omni-channel retailer in the fishing industry.

Mission and Vision

Angling Direct's mission is to inspire individuals to enjoy exceptional fishing experiences, regardless of background or ability, by providing high-quality products and expert advice. The company's vision is to be the one-stop destination for all anglers, fostering a community that promotes the benefits of fishing and outdoor activities.

Primary Area of Focus

The company specializes in the sale of fishing tackle products and related equipment, catering to various angling disciplines, including carp, coarse, predator, sea, and game fishing. Angling Direct offers a wide range of products, from baits and additives to rods, reels, and accessories.

Industry Significance

Angling Direct holds a significant position in the fishing tackle retail industry, with an estimated UK market share of approximately 16%. This leadership underscores its influence and importance within the sector.

Key Strategic Focus

Core Objectives

Market Leadership: Maintain and strengthen its position as the UK's leading specialist fishing tackle retailer.

Expansion: Grow its presence in Europe, leveraging its European distribution center in Venlo, the Netherlands.

Customer Engagement: Enhance customer loyalty through initiatives like the MyAD Fishing Club, which has grown to over 496,000 members.

Specific Areas of Specialization

Product Range: Offer a comprehensive selection of fishing tackle products, including baits, rods, reels, and accessories.

Customer Service: Provide expert advice and support through knowledgeable staff and in-store qualified coaches.

Community Engagement: Foster a sense of community among anglers through social media, events, and educational content.

Key Technologies Utilized

E-commerce Platforms: Operate five dedicated websites for the UK, Germany, France, the Netherlands, and the broader European market, attracting over nine million visitors annually.

Digital Content: Utilize the ADTV YouTube channel and social media platforms to engage with customers and provide educational content.

Primary Markets Targeted

United Kingdom: Continue to serve as the primary market with a strong retail and online presence.

Europe: Expand into European markets, with a focus on countries like the Netherlands, Germany, and France.

Financials and Funding

Funding History

Angling Direct PLC was listed on the London Stock Exchange's AIM market in July 2017, raising £9 million in an oversubscribed placing at a price of 64p per share.

Total Funds Raised

The company has raised a total of £9 million through its AIM listing.

Recent Funding Rounds

No additional funding rounds have been reported since the AIM listing.

Notable Investors

Specific details about individual investors are not publicly disclosed.

Intended Utilization of Capital

The net proceeds from the AIM listing were intended to support Angling Direct's expansion plans, including new store openings and acquisitions, as well as to enhance its market credibility for future growth initiatives.

Pipeline Development

Key Pipeline Candidates

Angling Direct continues to expand its product offerings and retail footprint, with recent developments including:

New Store Openings: Opened a new store in Rotherham, South Yorkshire, on October 19, 2019, bringing the total number of stores to 32.

European Expansion: Opened its first European store in Utrecht, the Netherlands, marking a significant milestone in its European growth strategy.

Stages of Development

The company is in the expansion phase, focusing on increasing its retail presence and enhancing its online platforms to serve a broader customer base.

Target Conditions

Angling Direct aims to cater to the diverse needs of anglers across various disciplines, including carp, coarse, predator, sea, and game fishing.

Relevant Timelines

The company continues to evaluate and pursue opportunities for new store openings and acquisitions to support its growth objectives.

Technological Platform and Innovation

Proprietary Technologies

Advanta Brand: Launched in March 2016, Advanta is Angling Direct's own brand offering a range of fishing tackle products.

Significant Scientific Methods

Customer Data Analytics: Utilize data analytics to understand customer preferences and optimize product offerings.

AI-Driven Capabilities

Personalized Marketing: Employ AI-driven marketing strategies to deliver personalized content and promotions to customers.

Leadership Team

Key Executives

Steven Crowe: Chief Executive Officer (CEO)

Sam Copeman: Chief Financial Officer (CFO)

Craig Jones: Chief Operating Officer (COO)

Professional Backgrounds

Steven Crowe: Served as CEO since 2019, leading the company's strategic direction and growth initiatives.

Sam Copeman: Joined Angling Direct as CFO, overseeing financial operations and strategic financial planning.

Craig Jones: Appointed COO, responsible for operational efficiency and the execution of business strategies.

Key Contributions

Steven Crowe: Instrumental in expanding Angling Direct's market presence and overseeing the launch of the Advanta brand.

Sam Copeman: Played a pivotal role in managing financial growth and supporting the company's expansion plans.

Craig Jones: Enhanced operational processes, contributing to improved customer service and store performance.

Leadership Changes

Recent Appointments

Andy Torrance: Appointed Non-Executive Chairman in June 2023, succeeding Martyn Page, who transitioned to a Non-Executive Director role.

Predecessor Roles

Martyn Page: Served as Executive Chairman before moving to the Non-Executive Director position.

Competitor Profile

Market Insights and Dynamics

Market Size: The UK fishing tackle market was valued at approximately £550 million in 2018, with France and Germany each having markets around £800 million.

Growth Potential: The market is fragmented, presenting opportunities for consolidation and expansion.

Competitor Analysis

Studio Retail Group: A UK-based retailer offering a range of products, including fishing tackle.

SCS Group: Specializes in home furnishings but also offers outdoor equipment.

Marks Electrical Group: Primarily an electrical retailer with a growing presence in outdoor products.

Competitive Landscape

Angling Direct's specialization in fishing tackle and equipment, combined with its extensive retail and online presence, positions it favorably against competitors.

Strategic Collaborations and Partnerships

Collaborations

Angling Trust: Lead sponsor for the "Get Fishing" campaign, engaging over 27,000 new participants.

Partnerships

Local Fishing Communities: Collaborates with local angling groups to promote the sport and support community events.

Operational Insights

Strategic Considerations

Market Position: As the UK's market leader with a 16% share, Angling Direct leverages its position to influence market trends and customer preferences.

Competitive Advantages: Specialized product range, expert customer service, and strong community engagement differentiate Angling Direct from competitors.