CRC Sports, a division of Central Retail, has recently acquired a significant 40% stake in JD Sports Thailand. This strategic move is aimed at bolstering the company’s standing in Thailand’s rapidly expanding sports fashion sector.
The transaction is projected to expedite growth in the premium sneaker and athleisure sectors, predominantly among the younger demographic. By merging CRC Sports’ expansive local retail network with JD Sports’ worldwide brand affiliations and merchandising expertise, the partnership is anticipated to be a formidable force in the market.
Tai Chirathivat, the CEO of Central Retail Brands and Specialties (CRBS), has highlighted the numerous benefits this collaboration brings. He emphasized that this partnership not only enhances their access to exclusive global products and licensing rights but also paves the way for the company to penetrate the sports lifestyle market fully. This sector, which is currently valued at over 35 billion baht (approximately US$1.1 million), is growing at an impressive annual rate of around 6%.
With this acquisition, the company aims to seize up to 40% of the market share and emerge as the unrivaled leader in the sports lifestyle sector.
JD Sports, a prominent player in the global market, currently runs more than 4,900 stores across 49 countries, hosting distinguished brands such as Nike, Adidas, New Balance, and On. Meanwhile, JD Sports Thailand operates 15 stores.
On the other hand, CRC Sports operates over 129 stores throughout Thailand, featuring brands like Supersports, Rev Runnr, and Mono Store.
Why did CRC Sports acquire a stake in JD Sports Thailand?
The acquisition aims to strengthen CRC Sports’ position in Thailand’s swiftly growing sports fashion market and accelerate its expansion in the premium sneaker and athleisure sectors.
What advantages does the partnership between CRC Sports and JD Sports bring?
The partnership combines CRC Sports’ extensive local retail network with JD Sports’ global brand affiliations and merchandising expertise, enhancing their access to exclusive global products and licensing rights.
What is the growth rate of the sports lifestyle market in Thailand?
The sports lifestyle market in Thailand is growing at an average annual rate of around 6%, and is currently valued at over 35 billion baht (approximately US$1.1 million).
