JD Sports Fashion, Plc signed a franchise agreement with Foschini Retail Group (Pty) Ltd, a subsidiary of South African retailer The Foschini Group Limited (TFG), to launch the JD brand in South Africa.
The partnership aims to see TFG open more than 40 JD stores across South Africa over the next five years. The stores will operate under the JD banner, with the first stores expected to launch by the end of 2024, subject to customary regulatory approvals in South Africa.
The signed agreement marks the next stage in JD’s global growth strategy and enables the Group to expand into a relatively under-penetrated market for sports fashion.
Established in 1924, TFG has extensive experience in sports and fashion retailing. Its internationally diversified portfolio includes 34 fashion lifestyle brands and over 4,600 outlets in 26 countries across five continents. JD said TFG has the largest specialty fashion and lifestyle retail footprint in South Africa. With its understanding of the South African consumer, TFG is well-positioned to introduce the JD brand to the region.
“This franchise agreement is a further milestone in our ‘JD Brand First’ plan, and I am delighted to be working with TFG, one of South Africa’s most respected retailers, as we continue to bring JD’s distinctive offering to more customers globally,” commented Regis Schultz, CEO, JD Sports Fashion plc.
Anthony Thunstrom, CEO of TFG, said: “We are excited to be the exclusive partner of JD Sports in South Africa. This partnership allows TFG to bring a new compelling international sports fashion offering to the South African market. Through our Group’s established customer base of more than 35 million South Africans, we are well positioned to introduce the JD brand to the country.”
Image courtesy JD Sports Fashion plc.
