JD Sports Fashion announces the appointment of Prama Bhatt as a non-executive director, enhancing its board with extensive US retail expertise.
- Prama Bhatt brings over 20 years of multi-channel retail experience, previously serving prominent roles at Kenneth Cole, Toys R Us, and Ulta Beauty.
- This move aligns with JD Sports’ strategic expansion in the US, following its recent acquisition of Hibbett sports retailer.
- The acquisition signifies a £4.7bn revenue boost in North America, escalating its sales share from 32% to 40%.
- Andrew Higginson, JD’s chair, emphasizes Bhatt’s deep understanding of the US market as a pivotal asset to the board.
JD Sports Fashion has taken a significant step in bolstering its leadership by appointing Prama Bhatt as a non-executive director effective from 23 September. This strategic appointment comes at a crucial time, aiming to provide the company with enhanced insights into the US retail market, which are essential for its North American growth strategy.
Prama Bhatt, a seasoned professional with over two decades of experience in multi-channel retailing, offers a wealth of knowledge from her tenure at leading American companies. Her previous roles include crucial positions at Kenneth Cole and Toys R Us, where she led digital and ecommerce teams, and most recently, as the chief digital officer at Ulta Beauty. Additionally, Bhatt lends her expertise as a board member of Hormel Foods, further testament to her extensive experience in diverse sectors.
The context of Bhatt’s appointment is significant, occurring after JD Sports’ acquisition of US sports retailer Hibbett Inc. This deal, valued at $1.1bn (£878m) and initially announced in April, marks a pivotal point in JD Sports’ expansion strategy, with a projected revenue increase in North America to £4.7bn annually. Consequently, this development raises JD Sports’ share of total sales in the region from 32% to a substantial 40%, underscoring its commitment to strengthening its foothold in the American market.
Andrew Higginson, chair of JD, highlighted the meticulous recruitment process led by the nominations committee, assisted by an external search firm, to identify a US-based non-executive director. He stated that the decision to appoint Bhatt was driven by her profound understanding of the US retail landscape, which is expected to enrich board discussions significantly. Higginson’s remarks underscore the importance JD Sports places on gaining valuable market insights and board diversity to navigate its expansion efforts successfully.
Prama Bhatt’s appointment is a strategic move by JD Sports to leverage US market insights for its ambitious growth plans.
