Foschini Retail Group (Pty) Ltd, has signed a franchise agreement with JD Sports Fashion Plc to be its exclusive retail partner in South Africa. The deal marks the next stage of JD Sports' global growth strategy, and the partnership will enable JD Sports to deliver on the roll out of its 'JD Brand First' plan and is a pivotal move in the continued expansion into underpenetrated markets. The signing of the agreement means that TFG will open more than 40 JD Sports stores over the next five years in South Africa.

Strong brand partnerships are in the DNA of both JD Sports and TFG, and the deal will provide substantial opportunity for both JD Sports and TFG to showcase their unique multi-brand, omnichannel propositions. Consumers will benefit from exclusive access to the latest styles from some of the world's largest brands including Nike, adidas, New Balance, and Under Armour. The implementation of the agreement is subject to Exchange Control approval from the Financial Surveillance Department of the South African Reserve Bank in South Africa, which is customary for a transaction of this nature.