The Foschini Group (TFG) has signed a franchise agreement with JD Sports, a British sports-fashion retailer, to become its retail partner in South Africa. <\/p>\n\n\n\n
JD Sports is a sports fashion retailer that sells products from recognised brands, such as Nike, Adidas, and Puma, as well as private labels, including Pink Soda and Supply & Demand. <\/p>\n\n\n\n
‘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,” said Anthony Thunstrom, TFG CEO. <\/p>\n\n\n\n
“This further bolsters our existing Sports positioning, with our Sportscene, Totalsports and Sneaker Factory stores already being the destinations of choice for athletic and leisure sports apparel.: <\/p>\n\n\n\n
“This franchise agreement is a further milestone in our ‘JD Brand First’ plan (for underpenetrated markets), and I am delighted to be working with TFG, one of South Africa’s most respected retailers, as we continue to bring JD Sports distinctive offering to more customers globally,” added Regis Schultz, CEO of JD Sports. <\/p>\n\n\n\n
Thunstrom said that the first JD Sports stores in South Africa should be launched by the end of the year. <\/p>\n\n\n\n
The signing of the agreement also means that TFG will open over 40 JD stores over the next five years in South Africa.<\/p>\n\n\n\n
The implementation of the agreement is still, however, subject to Exchange Control approval from the Financial Surveillance Department of the South African Reserve Bank. <\/p>\n\n\n\n