Companies

JD Sports sells 15 non-core fashion brands to Frasers Group

Dec 21, 2022 United Kingdom

The deal, worth 47.5 million British pounds (around 57.6 million USD), will enable the UK-based retailer to focus on the international and digital expansion of its core platforms

The British sportswear retailer reported that the brands divested include Base Childrenswear, Choice, Clothingsites (including Brown Bag Clothing), Cricket, Giulio, Kids Cavern, Missy Empire, Nicholas Deakins, Pretty Green, Prevu Studio, Rascal Clothing, Tessuti (including Xile), Scotts, Watch Shop and Topgrade Sportswear (including Get The Label). Eight of these were already completely acquired, with the remaining seven expected to close in early 2023.

The sale follows a "strategic review led by the Group's Chief Executive Officer", Régis Schultz, at the helm of the company since September. JD intends now to "significantly simplify" its branded fashion offering, focusing more on the international and digital expansion of the group's core premium sports fashion brands.

"JD is rightly recognized for its laser focus on the customer, and we are convinced that the most significant opportunities lie in the continued international development of the Group's global sports fashion businesses", commented Régis Schultz, CEO of JD. "We are pleased to have agreed to the sale of these attractive, but non-core, brands and I would like to express my sincere thanks to all colleagues at the businesses which form part of the transaction for their hard work and contribution to the Group over the years", he concluded.

Image Credits: retail-focus.co.uk

United Kingdom Brands Companies Footwear JD Sports Management Retail