UK's JD Sports expands into Mexico through Grupo Axo partnership 

Sept 21 (Reuters) - British ‌sportswear retailer ​JD ​Sports on Monday announced its expansion into Mexico through a long-term ‌franchise partnership with fashion retailer Grupo Axo, ⁠betting on strong demand from Mexico's growing young ‌population.

Here are some more ‌details:

• JD cut its profit outlook after weak demand from its core younger and ​less affluent customer base hit its North American market of US and Canada, ⁠which accounts for over a third of its sales.

• Under ​the agreement, Axo will operate JD stores and e-commerce in Mexico, using JD's ​brand and intellectual property, with ‌the two companies also leveraging JD's own-brand and exclusive product portfolio ⁠across footwear, apparel and accessories.

• JD said Axo will operate more than 140 of its ⁠premises in the country, through Axo's existing sneaker stores, ​with plans to upsize stores at key locations over time.

• "We see a significant opportunity to lead the ‌category in Mexico" said CEO Régis Schultz.

• The deal expands JD's franchise platform, ‌which currently spans 75 JD and Courir ⁠franchise stores across ‌Europe, the Middle ​East, Africa and Asia.

(Reporting by Simone Lobo in Bengaluru; Editing by Nivedita ‌Bhattacharjee)

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