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JD Sports Expands Reach in Central and Eastern Europe with Full Acquisition of Marketing Investment Group
2024-02-07
source own
JD Sports Finalizes Acquisition of Marketing Investment Group, Expanding European Dominance and growth in Poland and Central Europes sporting goods retail market.JD Sports has successfully finalized its purchase of the Poland-based Marketing Investment Group (MIG), a prominent player in the footwear and apparel sector, marking a significant expansion of its market presence in Central and Eastern Europe.
By acquiring the remaining 40% minority stake, JD Sports has now become the sole owner of MIG, signaling a strategic move to consolidate its operations across Europe and enhance the JD brand's growth in the region.
MIG, known for its streetwear brand Sizeer along with several other retail outlets offering a diverse selection of sports footwear, clothing, and accessories from top global brands, reported revenues of around £270 million in 2023. The company boasts a robust retail network with 403 stores spanning 13 countries, including 23 JD-branded stores as of December 2023.
Régis Schultz, JD Sports’ Chief Executive, commented on the acquisition, highlighting its strategic importance: “Securing the full ownership of MIG propels our expansion strategy in Central and Eastern Europe on the solid groundwork laid with our former partners. This move is pivotal for JD’s growth, aligning with our strategic objectives outlined during our capital markets day, including increasing our retail footprint and enhancing our multi-channel retail approach in the region."
He further emphasized the synergy between the Sizeer brand and JD’s vision: “The Sizeer brand complements our portfolio perfectly, and the JD brand has already started making significant inroads with consumers. We are committed to leveraging this momentum.”
Schultz expressed enthusiasm about the acquisition's completion and the prospect of continuing the brand's expansion with the support of the local management team, indicating a promising future for JD Sports in Central and Eastern Europe.
