Original Source: fr.fashionnetwork.com
JD Sports, a prominent player in the global sportswear market, is strategically positioned to strengthen its presence in Europe through its acquisition of Courir, a popular French sportswear retailer. This acquisition is not merely a financial transaction but a calculated step toward expanding JD Sports’ market share in key European regions, particularly France. With a rich history and substantial success, JD Sports aims to leverage Courir’s existing customer base and store presence while maintaining the distinct identity of both brands, ensuring a wider appeal within the competitive landscape of sports fashion.
On November 27, 2024, JD Sports Fashion, the renowned British sportswear giant, confirmed its acquisition of French distributor Courir. This strategic move, first hinted at back in May 2023, aims to bolster JD Sports’ foothold in the European market, particularly in France, which is hailed as the sneaker capital. According to JD’s CEO Régis Schultz, the acquisition represents a pivotal opportunity to enhance their competitiveness across major European countries.
Courir is set to maintain its identity, appealing to a distinctly different demographic than JD Sports, notably attracting a more feminine and slightly older audience. Currently operating 323 stores across France, Spain, Belgium, the Netherlands, Portugal, and Luxembourg, Courir also manages 36 franchise stores worldwide, expanding its reach into the Middle East and Africa, alongside three stores under the Naked brand.
The grand price tag for this acquisition is €520 million, sourced from existing cash flows and a revolving credit line. With Courir’s impressive 2023 revenues reaching €725.8 million and a solid pre-tax profit of €50.3 million, JD Sports plans to further develop Courir’s European operations under the leadership of its current team, including Pierre Chambaudrie. However, to receive regulatory approval from the European Commission, JD Sports had to agree to relinquish 15 Courir stores in France and 6 in Portugal, which will be handed over to Snipes by the first trimester of the fiscal year 2026.
JD Sports, with a remarkable turnover of £10.4 billion ($12.5 billion) in 2023 and a net profit of £538.8 million, continues its expansionist strategy following its recent $1.1 billion acquisition of American competitor Hibbett. While the intricacies of regulatory processes often weave a complex web, JD Sports remains steadfast in its pursuit of growth in Europe, armed with its legacy of stylish athletic apparel and the promising potential of Courir.
As the retail landscape continually evolves, JD Sports stands at the forefront, ready to take on the European market with renewed vigour and ambition, seamlessly blending its brand with Courir’s unique character, promising an exciting journey ahead.
