To speak of padel in Spain is to speak of Padel Our. The company that emerged in 2010 when three partners bought a small shop of sports products in the Murcian town of Alcantarilla is today a giant that the competition does not manage to approach and that centers its expansion in the European market, once Spanish has been mastered.
For its general director, Pedro Martínez, getting to the place they now occupy has been the result of intense and constant work, but also of being in the right place and time, in a few years in which the paddle has exponentially increased its popularity and new players, eager to join this trend, were counted by thousands.
In that context, that small physical store, which is still maintained, has multiplied and the group has five online stores, 31 physical stores between its own and franchises, a padel club in Murcia and commercial agreements for the distribution of material with another 2,000 throughout Spain, in addition to six brands of self-made blades (Siux, Wingpadel, Orygen, Padel Session, Cazzec and Eclypse). To all this is added its new division of "running", Streetprorunning, which already reports around 30% of its profits.
In 2018, the cluster sold about 10,000 shovels of those brands, still far from other manufacturers such as Adidas, with its All for Padel brand, with more than 52,000 shovels sold last year; or the Spanish Nox, with about 40,000, or StarVie, with about 23,000.
All these brands are also marketed by Pádel Nuestro, which closed 2018 with a turnover of some 22 million euros, in the absence of the final closure of the year, explains Martínez. Nox billed some three million that year and StarVie, about 2.3 million. But the comparison with those brands is not fair, because they are limited to the sale of those items.
Its most direct competitor would be the Madrid group Time2Padel, another of the large multi-brand distributors related to this sport, especially after in 2017 it bought the Padelmanía brand, pioneer and absolute leader in the Spanish paddle market and, however, finished entering bankruptcy
After the acquisition of that company, Time2Padel adds four physical stores, six distribution agreements with clubs and the Mystica brand, and closed 2018 with a turnover of about two million euros. Even subtracting to Padel Our the benefits that the articles for brokers, about six million euros, provide, the difference between the two is overwhelming. Through the internet, Time2Padel sells an average of between 250 and 300 articles a day. Padel Our, between 1,000 and 1,500.
Pádel Our has grown around 30% compared to 2017, but largely driven by the business of equipment for runners, since the paddle has reached a point of "stability". In fact, in previous years the growth was much greater: in its ranking of 2018, the British newspaper Financial Times included the Pádel Nuestro group among the thousand European companies that grew the most in the three years from 2013 to 2016, 240%, with a return on investment of 50.4%.
With the paddle market in Spain in that stability situation described by Martínez, the company's future is now, according to him, due to sales in the European market, in which they are also considered leaders, although without official data to compare.
The paddle, which was born in Mexico in the 70s of the twentieth century, entered the Old Continent through Spain and, although expanding in countries such as Portugal, Italy, France or Sweden, its practice is still very small compared to our country . But it is a growing market whose pull does not want to waste the Murcia. In 2018, about 15% of its sales went to European clubs and individuals. That's about 3.3 million euros. Around 7% of the 1,500 orders received by their online store on average daily go abroad.
The CEO foresees for this 2019 an increase of between 25% and 30% of sales abroad, not only with online channels: the physical stores that the group already has in Andorra, Portugal and Italy intend to add another one in that country, in addition to one in France and another in Sweden, all of them in franchise. The distribution from the web, which accounts for around 70% of sales, also reaches Germany, Denmark and the United Kingdom, mainly. "The internationalization of the paddle is among our priorities for 2019," said Martínez.
Hobby. The Spanish Federation of Paddle records this year 58,409 licenses, 63% of men and 54% of veterans. According to data from the Ministry of Culture and Sports, 3.7% of Spaniards declare to practice it weekly.
Business. There are more than 90 brands of material for this sport in Spain. In addition to the distribution business is the management of clubs and tournaments.
Competitions World Padel Tour is the professional paddle circuit of reference in sports. In 2017 the organization, owned by the Damm group, invoiced 5.8 million euros.
Padel Our. It is the Spanish company of reference in this sport. Its turnover reached 22 million last year and it has six brands of self-made shovels.