2023-05-09 18:37:21
The action of JD Sports Fashion took 2.71% to 167.05 pence in a balanced market at the opening of the London Stock Exchange. Reuters Photographer / REUTERS
The British JD Sports is ready to pay 520 million euros.
In a landscape of sports distribution in full turmoil in France after the takeover of Go Sport by Intersport, another brand is about to change hands: Courir. The British JD Sports Fashion has entered into exclusive negotiations with the Equistone Partners Europe fund, which owns the company. ” We are delighted to announce a proposed acquisition of Courir, a highly respected company in the European sportswear industry,” said Régis Schultz, general manager of JD Sports.
The British retailer, which has yet to get the green light from Brussels, is ready to pay 520 million euros to get its hands on the brand, at the head of 313 stores in six countries in Europe, to which are added 36 stores duty-free in West Africa, the Middle East and overseas.
Read alsoSoon to be absorbed, the Go Sport brand is about to disappear
In a sector dominated in France by Decathlon and Intersport, the brand has done well by focusing on sneakers and major brands. She claims a position fashion and femininewith a young, urban clientele. At the heart of its identity, the desire to“decompartmentalize the sneaker”which represents« much more than a trend, a true state of mind that transcends generations ». Courir has become the leader in France since 2016 and has seen its turnover multiply by 3.5 in nine years. Last year, the latter reached 609.8 million euros, for 47.4 million in profits.
Complicated course
For five years, the company has accelerated its internationalization under the impetus of Equistone Partners. As well as its digitization. After a start-up delay, it now generates 18% of its sales online, with the objective of reaching 25% in 2026.
His journey has not been a long calm river. Created near Grenoble in 1980, the company was sold to Rallye in 1990, along with its big sister Go Sport. In debt, the parent company of the Casino group sold this nugget for 283 million euros in 2018. Five years later, it is worth almost double.
Britain’s ambition
JD Sports, which has 3,400 stores in 32 countries, is thinking big for Courir and for the future of the group. In February, he presented an ambitious expansion plan, saying he was ready to spend up to 3 billion pounds to open 1,750 outlets in five years. Courir should help it expand its presence in Europe and into new store concepts.
Read alsoFaced with inflation, Decathlon’s winning model
For the recovery of Go Sport, victim of the setbacks of the empire of Michel Ohayon, Intersport had beaten the pawn to another British, Frasers. French brands never cease to arouse covetousness.
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