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D Sports is to launch dozens of shops within the Middle East within the sportswear retailer’s first franchise deal as a part of its formidable progress plans.
The Bury-based retailer advised traders on Monday it should broaden into the area by means of a brand new partnership with Dubai-based firm GMG.
It plans to open round 50 shops below the JD model over the following 5 years, specializing in places within the United Arab Emirates , Saudi Arabia , Kuwait and Egypt.
The transfer is a part of plans by JD Sports to open between 200 and 300 new shops annually over the following 5 years.
Regis Schultz, chief govt officer of JD, launched the speedy progress technique at its capital markets occasion in February.
The boss joined JD Sports final 12 months following the exit of the retailer’s govt chairman Peter Cowgill, months after the UK competitors watchdog had fined the agency £4 million after studies of secret conferences between Mr Cowgill and the boss of takeover goal FootAsylum.
Mr Schultz had been president of retail for Dubai-based conglomerate Al-Futtaim Group earlier than he joined JD Sports.
“We are very pleased to be delivering this historic deal, the first franchise agreement JD has entered, in partnership with GMG,” Mr Schultz mentioned.
“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 partners 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.”
Mohammad A Baker, deputy chairman and CEO of GMG, mentioned: “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.”
