Why did JD sell Footasylum?

The CMA recently ordered JD Sports to sell Footasylum on the grounds that its ownership could reduce competition. The CMA revealed its decision following a protracted investigation that saw JD Sports appeal an original finding that it must sell Footasylum after concerns that it could lead to a worse deal for consumers.

Does JD still own Footasylum?

JD Sports agreed to acquire Footasylum for $119.54m in 2019.

When did JD sell Footasylum?

JD Sports bought the trainer retailer for £90m in 2019 in a deal that was subsequently subjected to an in-depth investigation by the Competition and Markets Authority, during which time the companies were ordered to operate as separate businesses.

What has happened to Footasylum?

JD Sports has been ordered to sell Footasylum, the trainer retailing rival it bought in 2019, after the competition regulator once more found that the takeover had reduced competition for high street shoppers.

Are Footasylum and JD connected?

Footasylum was purchased by JD Sports in a deal announced in April 2019. Both companies sell sports-related fashion - including clothing and footwear - in stores around the UK and online, through their respective apps and websites.

JD Sports told to sell Footasylum by competition watchdog

Who owns Footasylum UK?

The power struggle between two of Britain's biggest trainer tycoons has stepped up a gear, with Mike Ashley of Frasers Group offering to buy retail chain Footasylum from JD Sports executive chairman Peter Cowgill.

Are Footasylum and JD rivals?

JD Sports has hit out at the UK's competition watchdog after being forced to sell rival chain Footasylum. After an investigation, the Competition and Markets Authority (CMA) ruled that the takeover could lead to a "worse deal" for customers.

Who owns Foot Locker?

Principal Subsidiary Companies: Foot Locker is a wholly owned subsidiary of the Venator Group, formerly Woolworth Corporation.

Who will buy Footasylum?

Chairman of Frasers Group Mike Ashley has offered to buy retail chain Footasylum from rival JD Sports (JD), and has notified the Competition and Markets Authority (CMA), according to The Sunday Times.

Who owns Footasylum youtube channel?

Footasylum launched its Youtube channel in 2018. Founded by David Makin in 2005 and joined by John Wardle in 2008 – the original co-founders of JD Sports – Footasylum has since become an established UK sportswear retailer.

Who is the CEO of Footasylum?

Barry Bown - Executive Chairman & CEO - FOOTASYLUM | LinkedIn.

Does JD own tessuti?

Tessuti was founded in 1985 by David Light and 40% of the business was acquired by JD Sports PLC in May 2012, since becoming a key part of the JD Sports PLC strategy. In 2016, JD Sports PLC acquired Tessuti in full.

Why did the CMA block the merger of JD Sports and Footasylum?

The CMA had earlier blocked the merger in May 2020, but JD Sports appealed, alleging that CMA had failed to gather enough information regarding the impact of the pandemic and of the rising popularity of single-brand retail channels like Nike and Adidas.

Did JD sell Footasylum?

// The CMA recently ordered JD Sports to sell Footasylum

The retailer's £90 million takeover of Footasylum has been continually investigated by the CMA since the deal was first announced in March 2019. The CMA recently ordered JD Sports to sell Footasylum on the grounds that its ownership could reduce competition.

Who sponsors JD Sports?

JD is linking up with Norwich City ahead of the 2021/22 Premier League season as their official shirt sleeve sponsor! After a phenomenal 2020/21 campaign that saw them win automatic promotion, the club will be hoping to continue that form into their first season back in the Premier League.

Why is Foot Locker removing Nike?

While customers may see a slightly smaller selection of shoes brandishing the “swoosh” in coming months, a Foot Locker representative told Nexstar that Nikes are not going to disappear from stores. In 2021, Nike made up approximately 65% of total Foot Locker spending and 70% of total sales.

Is Foot Locker getting rid of Nike?

Nike CEO John Donahoe set the record straight on Nike's relationship with Foot Locker, saying the retailer will continue to stock its product.

Is Nike removing from Foot Locker?

While customers may see a slightly smaller selection of shoes brandishing the “swoosh” in coming months, a Foot Locker representative told Nexstar that Nikes are not going to disappear from stores. In 2021, Nike made up approximately 65% of total Foot Locker spending and 70% of total sales.

How many brands does Footasylum sell?

With over 65 stores across the UK, we're always one step ahead when it comes to streetwear. From high-profile trainer releases to the latest clothing, you'll find the freshest drops from sportswear giants Nike, adidas Originals and Jordan, and premium pieces from Alessandro Zavetti, Tommy Hilfiger, and Calvin Klein.

Where do JD Sports buy their stock?

JD Sports is a nationwide retail giant with a history stretching back 40 years. The Bury-headquartered group employs around 54,000 people and its shares are traded on the London Stock Exchange.

Who are JD Sports competitors UK?

Footasylum is also one of the retailers most closely monitored in JD Sports' internal documents, along with Foot Locker, ASOS, Nike and adidas. Other retailers are monitored by the Parties but to a much lesser extent, showing they are more distant competitors.

What does JD in JD Sports stand for?

The company was established by John Wardle and David Makin (hence the name JD), trading from a single shop in Bury, Greater Manchester, in 1981. The company opened a store in the Arndale Centre in Manchester in 1983.

How many brands do JD own?

JD owns around 60 brands and this is a great opportunity to reintroduce some of them into the wider marketplace.”

What shops do JD own?

Business summary

Its sports fashion brands include JD, Size?, Footpatrol, Finish Line, Shorpalaca, DTLR Villa, Livestock, Sprinter, Sports Zone, Chausport, Sizeer, JD Gyms, Tessuti, Scotts and Mainline. Its outdoor brands include Blacks, Millets, Ultimate Outdoors, Tiso, Go Outdoors, Fishing Republic and Naylors.