The Foschini Group (TFG) said it has signed a franchise agreement with JD Sports Fashion, a global sports fashion retailer, to be its exclusive retail partner in South Africa, and more than 40 new JD stores are planned in the country over the next five years.
JD Sports is a retailer of branded sports and casual wear, combining globally recognised brands such as Nike, adidas, Puma and The North Face, with strong private labels such as Pink Soda and Supply & Demand.
TFG CEO Anthony Thunström 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. It bolsters our existing sports positioning, with our Sportscene, Totalsports, and Sneaker Factory stores already being destinations of choice for athletic and leisure sports apparel.”
He said TFG was well positioned to introduce the JD brand to the region and he expected the first new JD Sports store would be launched by the end of the year.
A statement said the deal marked the next stage of JD’s global growth strategy and it represented continued expansion into under-penetrated markets for JD.
The deal would provide substantial opportunity for both JD and TFG to showcase their multi-brand, omnichannel propositions.
BUSINESS REPORT