Now JD Sports sets sights on South Korea with 50/50 JV
Sports fashion retailer JD Sports has invested £5.5m in acquiring a 15% stake in a South Korean footwear retailer, with plans to buy a further 35% next year.
The Bury-based business has entered a joint venture with South Korean footwear retailer Shoemarker Inc, for J&S Partners Inc - a company owned by Shoemarker, which trades as Hot-T.
Hot-T is a multibranded sports footwear retailer with 23 stores in South Korea and its own website. It has an annual turnover of around £17.2m but had pre-tax losses of £4.2m, which the co... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...