JD Sports hails "exciting milestone" as enters Mexico via Axo deal
(Alliance News) - JD Sports Fashion PLC on Monday announced a long-term franchise partnership with Grupo Axo SAPI de CV to launch the JD brand in Mexico.
The Bury, Manchester-based sports retailer said the entry into Mexico builds on its presence in the US and Canada and represents another "significant" step in its 'JD brand first' strategy.
Mexico City-based Axo is a retail operator and distributor in Latin America that manages physical and digital stores for international fashion, footwear, beauty, and personal care brands, including Calvin Klein, Tommy Hilfiger and Hollister.
Under the agreement, Axo will operate JD stores and e-commerce in Mexico, using JD's brand and intellectual property.
Commencing in 2027, Axo will operate more than 140 JD premises in Mexico. Over time, key locations are expected to be upsized.
JD Sports said the Mexican market offers a "significant runway" for growth, noting the country's activewear market is valued at around USD6.5 billion and is expected to grow to over USD10 billion by 2034.
The agreement builds on its growing franchise platform, JD said. It has currently has 75 franchise stores across Europe, the Middle East, Africa and Asia, in partnership with Groupe Courir.
Chief Executive Regis Schultz said the agreement is an "exciting milestone" in for the company and called Axo the "ideal" partner.
"JD's product offering aligns closely with consumer demand in Mexico and we believe our position at the intersection of sport, music and fashion will deepen the connection we have with that consumer," he added.
Shares in JD Sports Fashion, which reports half-year results on Wednesday, were up 0.8% at 74.30 pence each in London on Monday morning.
By Jeremy Cutler, Alliance News reporter
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