JD Sports in first franchise agreement with Dubai’s GMG
British activewear, athletic shoe and equipment retailer JD Sports has entered into a ten-year franchising deal with Dubai distributor GMG.
It hopes to open approximately 50 stores across Saudi Arabia, Egypt, Kuwait and the United Arab Emirates by 2028. According to company chief executive, Régis Schultz, the franchise agreement is the first of its kind for JD. “Through my own career, I have seen first-hand the massive untapped potential for retailers in the Middle East,” he explained.
“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.”
The retailer, which acquired French group Courir for half a billion euros in May, already plans to double its revenues and build between 250 and 350 new stores annually over five years.
