GMG to bring JD Sports to the region


July 3, 2023 | By RetailME Bureau

GMG to bring JD Sports to the region

UAE-based diversified business GMG and global sports fashion retailer JD Sports Fashion Plc have announced the signing of JD’s first franchise agreement. With the signing GMG has set the stage for JD Sports to enter the Middle East market.

The deal is a significant milestone in the delivery of JD’s global growth strategy announced by Régis Schultz, Chief Executive Officer of JD, at the company’s Capital Markets Event in February this year. The partnership will enable JD to deliver on the rollout of its ‘JD Brand First’ strategy and is a pivotal move in the continued expansion into underpenetrated markets.

Under the terms of the 10-year agreement, GMG will open around 50 stores under the JD fascia by 2028 with a focus on locations in the UAE, Saudi Arabia, Kuwait and Egypt aligned with JD’s plans to open between 200 and 300 new stores each year over the next five years.

A recent report by Data Bridge indicates that the sports apparel market in the region could reach a value of $23190.43 million by 2029 at a CAGR of 4.8%. JD’s foray into the MENA market thus comes at the right time.

“We are starting a new chapter in the sports retail landscape by acquiring the franchise rights for the GCC region and Egypt for JD Sports. By leveraging our respective strengths and expertise, we aim to revolutionise the sports retail sector, offering a diverse range of high-quality products, exceptional customer service, and innovative shopping experiences. This alliance is a testament to our commitment to enhancing the lives of consumers in the region, as we embark on a journey to provide them with unmatched choices and empower their active lifestyles,” said Mohammad A. Baker, Deputy Chairman and CEO of GMG.

“We are very pleased to be delivering this historic deal, the first franchise agreement JD has entered, in partnership with GMG. Through my own career, I have seen first-hand the massive untapped potential for retailers in the Middle East, and I am certain that GMG – with their expansive retail expertise and a local understanding of the customer – are the best partner for us in the region. We are excited by the opportunity to explore franchise partnerships as an avenue for further store growth in underpenetrated markets, leveraging the global growth phenomenon of athleisure while bringing our proven proposition to more customers worldwide,” added Régis Schultz, CEO of JD Sports.

Previous Article Next Article

SHARE

YOU MAY ALSO LIKE /



In a move set to redefine the landscape of the Fast Moving 

Continue Reading

May 16, 2024 | By RetailME Bureau
Sunil Kumar and Ali Saeed Juma Albwardy, Spinneys

One of UAE’s leading fresh food retailers, Spinneys has announced its intention 

Continue Reading

April 19, 2024 | By RetailME Bureau
Laura Manning, Managing Director & Founder, BRW Society

Launched in 2019 by Laura Manning, UAE-based homegrown brand BRW Society completes 

Continue Reading

April 5, 2024 | By Rupkatha B
Rajiv Warrier, Chief Executive Officer, Choithrams

Since the launch of its first store in the UAE five decades 

Continue Reading

March 20, 2024 | By RetailME Bureau
Dr. Dhananjay Datar Chairman & Managing Director ADIL Trading Co. LLC

Dr. Dhananjay Datar Chairman & Managing Director ADIL Trading Co. LLC holds 

Continue Reading

February 29, 2024 | By Rupkatha B
Hani Weiss, Chief Executive Officer, Majid Al Futtaim Retail

In 1995 regional retail conglomerate Majid Al Futtaim introduced Carrefour to the 

Continue Reading

February 26, 2024 | By RetailME Bureau
Prashant Parameswaran, Managing Director and Chief Executive Officer of Tata Consumer Soulfull

Tata Soulfull, a leading name in the ‘good-for-you’ snacks and breakfast cereals 

Continue Reading

February 22, 2024 | By Rupkatha B
Jean-Luc Graziato, Chief Commercial Officer of Majid Al Futtaim – Retail and Alia Al Harmoodi, Acting CEO of the Environment, Health and Safety Agency

Majid Al Futtaim – Retail, which holds the exclusive franchise to operate 

Continue Reading

February 20, 2024 | By RetailME Bureau
Krishna Dhanak, Managing Director, Alpen Capital

In an exclusive interview Krishna Dhanak, Managing Director, Alpen Capital shared insights 

Continue Reading

February 19, 2024 | By Rupkatha B
Majed M. Al-Tahan, Co-founder & Managing Director, Danube Online

As digital transformation across the retail industry continues to accelerate, the expectations 

Continue Reading

December 19, 2023 | By RetailME Bureau
Frederic Levy-Perrault, CEO, Al Raya Supermarket

Saudi Arabia-based grocery retail chain Al Raya Supermarket serves over 100,000 customers 

Continue Reading

December 15, 2023 | By RetailME Bureau
Ahmad AR. BinDawood, Chief Executive Officer, BinDawood Holding

BinDawood Holding has a rich Saudi heritage, spanning over 50 years, 38 

Continue Reading

December 13, 2023 | By RetailME Bureau




Download Images RetailME Magazine