Wednesday, 13 March 2024 – JD Sports Fashion Plc (‘the Group’ or ‘JD’), the leading global sports fashion retailer, today announces the signing of a franchise agreement with Foschini Retail Group (Pty) Ltd, a subsidiary of The Foschini Group Limited (‘TFG’), a leading South African retailer, 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 fascia, with the first stores expected to launch by the end of 2024, subject to customary regulatory approvals in South Africa.
The signing of the agreement marks the next stage in JD’s global growth strategy and enables the Group’s expansion into a relatively underpenetrated market for sports fashion.
TFG, established in 1924, has a wealth of experience in sports and fashion retailing through its internationally diversified portfolio of 34 leading fashion lifestyle brands and over 4,600 outlets in 26 countries across five continents. TFG has the largest speciality fashion and lifestyle retail footprint in South Africa, and with its unrivalled understanding of the South African consumer, TFG is perfectly positioned to introduce the JD brand to the region.
Regis Schultz, CEO of JD Sports Fashion plc, said: “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.”
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.”
Strong brand partnerships are in the DNA of both JD and TFG and this agreement will provide substantial opportunities for both JD and TFG to showcase their multi-brand, omnichannel propositions. Consumers will benefit from exclusive access to the latest styles from some of the world’s largest brands including Nike, adidas, New Balance and Under Armour.
ENDS
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Rollo Head, Jenny Davey, James Thompson
NOTES TO EDITORS
About TFG Limited
TFG holds a diversified portfolio of speciality retail assets across various product categories and consumer segments. The Group has a portfolio of 34 leading retail brands, with over 4600 outlets in 26 countries on five continents, offering customers a variety of speciality products including fashion apparel, jewellery, cosmetics, sporting apparel, electronics, homeware and furniture. TFG has the largest speciality fashion and lifestyle retail footprint in South Africa and a growing presence in the UK and Australia.
Visit us at www.tfglimited.co.za