Sporting goods group Intersport is aiming to expand its presence in the Chinese sports market after signing a franchise agreement with China’s Suning Group.
Under the terms of the agreement, omnichannel retailer Suning will be able to open Intersport stores in several provinces and municipalities in China. It will also distribute Intersport-branded articles online.
Commenting on this new partnership, Steve Evers, CEO of Intersport International said: “Intersport's global expansion is progressing. This alliance of two strong partners with complementary businesses and competencies will form the basis for long-term success in the Chinese sports retail market."
For his part, Gary Gong, vice president of Suning, said the agreement with Intersport comes in response to a boom in the popularity of sport in China. He explained: "Football, fitness, and a penchant for a healthy lifestyle are increasingly popular in China. For this reason, Suning took the strategic decision to extend its retail business into the sport equipment market.”