JD Sports, a British sportswear retailer, has made another purchase. JD Sports appears to be having a banner year in 2021! Following the acquisition of sportswear retailer DTLR for $495 million earlier this year, it bought clothing store Oi Polloi in May. It bought a controlling interest in Missy Empire last month.
And now, the company has announced a multi-million pound investment in the British athleisure brand Gym King.
JD Sports, notably, has acquired a large minority investment in Gym King, a company recognised for its athleisure and trend-driven performance gear.
The investment is regarded as part of JD Sports’ efforts to accelerate its worldwide development goals, particularly into the United States., Europe and Asia.
JD Sports and Gym King have formed a new alliance. According to the firm, it will assist the former in becoming a world-renowned lifestyle performance brand. JD Sports upped its full-year profit forecast to £550 million earlier this month. It has outlets in the United Kingdom, Europe, the United States, Asia, New Zealand, and Australia, and its revenue is expected to be £6,110.8 million in 2020.