LONDON, United Kingdom — British sportswear retailer JD Sports Fashion said on Friday it had continued its global expansion with a joint venture deal to enter the South Korean market.
JD said its agreement was with footwear retailer Shoemarker and its J&S Partners unit, which currently trades as Hot-T.
The British firm has purchased an initial 15 percent of Hot-T for £5.5 million ($ 7.4 million) and has a call option to buy a further 35 percent stake following the finalisation of Hot-T’s year to December 31 2017 accounts.
JD said it intends to exercise the option and re-brand the Hot-T stores as JD, though the business would continue to be operati…
The Business of Fashion