SEOUL, March 26 (Korea Bizwire) – JD Sports Fashion PLC, a major British sports fashion retailer, will open its first Korean store in Seoul next month as part of its overseas expansion drive, its local unit said Monday.
The new store will open in the affluent Gangnam district on April 13, marking the firm’s first inroad into the Northeast Asian market, according to JD Sports Fashion Korea, a joint venture set up by the British firm and a South Korean retailer Shoemarker Co. last year.
Founded in 1981, JD Sports Fashion currently has over 1,250 stores in 14 countries, including France, Germany and Australia. Its sales reached some 3.5 trillion won (US$3.24 billion) in 2016.
The company said it plans to open up to 31 new stores in major South Korean cities by the end of this year.