LONDON (dpa-AFX) - JD Sports Fashion Plc (JD.L), a British sports fashion retailer, Monday said that it has entered into a long-term franchise partnership with Grupo Axo, S.A.P.I. de C.V., a multi-brand omnichannel retail distributor in Mexico, to launch the JD brand in the country.
As per the terms of the agreement, Axo will operate JD stores and its e-commerce platform in Mexico under the JD brand and utilise its intellectual property. The two companies will also make use of JD's own-brand and exclusive product portfolio to offer Mexican consumers an exclusive range of footwear, apparel and accessories.
JD Sports Fashion said that the partnership is expected to commence in 2027, with Axo set to operate more than 140 JD premises across Mexico, thus leveraging its existing network of sneaker stores. The company said that over time, key locations are expected to be expanded and reimagined in line with JD's flagship 'bigger and better' store format.
Commenting on the developments, Régis Schultz, Chief Executive Officer of JD Sports Fashion plc, said: 'This partnership is another important step in our 'JD Brand First' strategy and reinforces our ambition to make JD the leading global sports fashion destination across the world's most attractive consumer markets.'
On the LSE, JD.L ended Friday's trading at 73.72 pence, down 2.60 pence or 3.41 percent.
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