×
249
Fashion Jobs
SPORTS DIRECT
Loss Prevention Supervisor - Sports Direct
Permanent · CARRICKMINES
SPORTS DIRECT
Loss Prevention Supervisor - Sports Direct
Permanent · LIMERICK
SPORTS DIRECT
Loss Prevention Supervisor - Sports Direct
Permanent · DUBLIN
PHV
Country vm Manager, Ireland
Permanent · Dublin
H&M
Visual Expert Manager - Deco & Curation - College Green
Permanent ·
CANADA GOOSE
Security Ambassador
Permanent · DUBLIN
BESTSELLER
Jack & Jones Sales Representative
Permanent · Dublin 12
BESTSELLER
Vero Moda Sales Representative
Permanent · Dublin 12
BESTSELLER
Junior Head Office Sales Representative
Permanent · Dublin 12
SPORTS DIRECT
Loss Prevention Supervisor - Sports Direct
Permanent · DUBLIN
SPORTS DIRECT
Loss Prevention Supervisor - Sports Direct
Permanent · NEWBRIDGE
PRIMARK
External Reporting And Compliance Accountant
Permanent · Dublin
PRIMARK
Business Analyst
Permanent · Dublin
PRIMARK
Senior Finance Transformation Manager- Payroll
Permanent · Dublin
PRIMARK
Team Manager Dublin Area
Permanent · Dublin
L'OREAL GROUP
Retail Brand Manager - Vichy - Acd
Permanent · Dublin
PRIMARK
Business Analyst - Data & Analytics
Permanent · Dublin
ESTÉE LAUDER
Clinique - Consultant - Brown Thomas - 37.5 Hours
Permanent · Cork
PRIMARK
Cyber Security Operations Engineer
Permanent · Dublin
PRIMARK
Cyber Security Operations Analyst
Permanent · Dublin
PRIMARK
Administrator – Buying, Merchandising And Design
Permanent · Dublin
PRIMARK
Senior Finance Transformation Manager - Source to Pay
Permanent · Dublin
Published
Sep 19, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

JD Sports purchase of Footasylum sees in-depth probe

Published
Sep 19, 2019

It looks like JD Sports’ £90 million acquisition of troubled smaller peer Footasylum isn’t going to go through easily with news on Thursday that the Competition and Markets Authority (CMA), which had been investigating the deal, could be ready to move on with a phase two probe. It has concerns that the purchase would erode competition in the market. That would mean an in-depth look at the deal and just how much it might be likely to dent competition.


DR



The CMA thinks the deal might actually “result in a worse deal for customers, both in-store and online, through higher prices, worse choice in stores or reductions in service quality” and it wants JD Sports to "address the concerns identified or face a further, more in-depth, investigation.”

Given JD Sports’ huge size and its number one position in the sports fashion sector, it was always likely that a purchase of a retailer operating in the same category would attract CMA attention.

JD Sports has over 400 UK stores while Footasylum has only around 70 and while the former has been going from strength to strength, Footasyulm has struggled for some time. When it listed on the stock market around two years ago, it was valued at £170 million but its share price fell on news of tough trading and the JD Sports deal was seen largely as a rescue for the firm.

On Thursday, JD Sports’ chairman Peter Cowgill said: “We continue to believe that Footasylum would be a positive addition to the group, bringing a differentiated customer demographic and fashion-led product range that is complementary to our existing business. We also believe that there will be significant operational and strategic benefits from a combination of the two businesses.

Our discussions with the CMA are ongoing as we consider whether to proceed to Phase 2 or if acceptable remedies can be agreed at this stage. We look forward to working constructively with the CMA in this regard and will provide further updates in due course.”

Copyright © 2023 FashionNetwork.com All rights reserved.