JD Sports Fashion has officially acquired French retailer Courir for €520m after European Commission approval.
- The deal adds 323 stores across several European countries to JD Sports’ portfolio.
- A strategic move will see 21 Courir stores divested to German retailer Snipes by 2026.
- The acquisition aims to broaden JD Sports’ consumer base, focusing on a diverse demographic.
- Despite growing revenues, JD Sports forecasts lower year-end profits due to mild weather conditions.
JD Sports Fashion has successfully completed its acquisition of Courir, a French sportswear and footwear retailer, in a transaction valued at €520 million (£452 million). This acquisition marks a significant expansion for JD Sports, adding Courir’s substantial retail presence in France, Spain, Belgium, the Netherlands, Portugal, and Luxembourg to its portfolio.
Courir operates a total of 323 stores, which will be integrated into JD Sports’ existing network. Additionally, Courir has three stores under the ‘Naked’ brand, targeting women’s sneaker markets, along with 36 franchise stores distributed across north-west Africa, the Middle East, and French overseas territories.
As part of the acquisition conditions set by the European Commission, announced on 22 October 2024, JD Sports will divest 15 Courir stores in France and all six stores in Portugal. These stores are scheduled to be transferred to German retailer Snipes by the first quarter of 2026. This move ensures compliance with regulatory requirements while allowing JD Sports to streamline its operations.
JD Sports’ CEO, Régis Schultz, highlighted the strategic benefits of this acquisition by stating, “This acquisition will broaden the JD Group’s customer reach, adding a more female, fashion-conscious and older customer base to complement the group’s core customers.” Such a shift is aimed at diversifying JD Sports’ demographic appeal and enriching its market position.
Financially, JD Sports has reported a revenue increase to £5 billion for the 26 weeks ended 3 August 2024, representing a 5.2% growth compared to the same period last year. However, the company has tempered expectations for its full-year profits, attributing predictions of being at the lower end of its guidance range to unusually mild weather in October.
The acquisition of Courir by JD Sports marks a strategic expansion aimed at diversifying and strengthening its consumer market presence.
