THE FOSCHINI Group has posted a strong performance from its Australian market with turnover rising to nearly R16bn. Armand Hough African News Agency (ANA)
South African retailer, The Foschini Group (TFG) has signed a franchise agreement with UK retailer JD Sports Fashion to be its exclusive retail partner in the country.
Consumers can expect the launch of the first new physical JD Sports stores by the end of the year. The signing of the agreement means that TFG will open more than 40 JD stores over the next five years in South Africa.
JD Sports is a sports fashion retailer of branded sports and casual wear that combines globally recognised brands such as Nike and Adidas, with strong private labels like Pink Soda and Supply & Demand.
With the launch of the JD stores, consumers can expect to get access to brands such as Nike, Adidas, New Balance, and Under Armour.
TFG chief executive 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.”
Regis Schultz, CEO of JD Sports Fashion plc, said that the franchise agreement is a further milestone in our ‘JD Brand First plan’.
Schultz said: “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.“
Thunström said that due to TFG’s established customer base they are are well positioned to introduce the JD brand to the region. TFG claims a customer base of 30 million on its website.
The deal between JD Sports and TFG marks the next stage of JD’s global growth strategy.
IOL Business
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