Time to sell non-core fashion businesses, JD Sports decides
Following a review of its business portfolio, retail group JD Sports has announced that it will sell interests it has in 15 UK-based fashion businesses. It said these business were non-core for JD Sports.
The group said it wants to focus completely on sports across its global business.
Frasers Group is the buyer of the shares JD Sports has owned in the 15 businesses; it bought JD’s shares in eight of these businesses immediately and agreed to complete the purchase of the sports group’s shares in the other seven fashion companies in early 2023. It will pay up to £47.5 million in total.
JD’s chief executive, Régis Schultz, said: “We are convinced that the most significant opportunities lie in the continued international development of the group’s global sports fashion businesses. We are pleased to have agreed the sale of these attractive, but non-core, brands.”
