In a strategic move to solidify its presence in the global sneaker market, UK-based retailer JD Sports has made another major acquisition. Following its successful purchase of US retailers DTLR, Shoe Palace, and Finish Line in recent years, JD Sports is now turning its attention back to Europe. The company has announced its acquisition of French sneaker retailer Courir, in a deal estimated at 520 million Euros, according to reports from WWD.
Courir, established in 1980, operates an impressive network of 283 stores throughout France and a total of 320 stores across Europe, with an additional 31 locations in Northwest Africa and the Middle East. While the completion of the acquisition is expected to occur in the latter half of 2023, it is subject to approval from the European Union Law. Furthermore, in accordance with French regulations, Courir management will be involved throughout the purchasing process.
JD Sports has made it clear that Courir will retain its distinct identity and operate autonomously from JD's existing French operations. The UK retailer's primary objective is to expand its premium sneaker network and tap into the growing women's sneaker market. "This proposed acquisition aligns perfectly with our growth strategy, as Courir's stores have a strong focus on the female consumer. By leveraging Courir's expertise in managing stores catering to female customers, we will significantly enhance our capabilities and unlock global opportunities across the entire JD Group," stated JD Sports.
The move highlights JD Sports' commitment to expanding its international footprint and capitalizing on emerging market segments. By preserving Courir's unique brand identity and leveraging its expertise in the women's sneaker market, JD Sports aims to further strengthen its position as a leader in the global sneaker industry. With the acquisition of Courir, JD Sports continues to assert its dominance as a key player in the retail sector. As the deal progresses, the company remains poised for sustained growth and an even more extensive global presence. Sneaker enthusiasts and industry watchers alike will be keeping a close eye on JD Sports' strategic moves and anticipating the exciting developments that lie ahead. For more on the latest sneaker news and to stay up to date with the latest sneaker retailers, connect with us on Instagram and Twitter.