JD Sports are to launch dozens of stores in the Middle East and told investors on Monday of their expansion plans in a partnership with Dubai based form GMG.
Over the next five years JD Sports will open around 50 stores in Egypt, Kuwait, United Arab Emirates and Saudi Arabia.
Regis Schultz, chief executive officer of JD in February launched his growth strategy after joining the firm last year.
Schultz said, “We are very pleased to be delivering this historic deal, the first franchise agreement JD has entered, in partnership with GMG.
“Through my own career, I have seen first-hand the massive untapped potential for retailers in the Middle East, and I am certain that GMG – with their expansive retail expertise and a local understanding of the customer – are the best partners for us in the region.
“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.”
Mohammad A Baker, deputy chairman and CEO of GMG, said, “This alliance is a testament to our commitment to enhancing the lives of consumers in the region, as we embark on a journey to provide them with unmatched choices and empower their active lifestyles.”
