JD Sports Fashion plc (LON: JD.), the Bury-headquartered sports fashion retailer behind the JD, Finish Line, Hibbett and Size? brands, said on Monday it will enter Mexico for the first time through a franchise partnership with Grupo Axo, S.A.P.I de C.V.
Axo, described in the announcement as Mexico’s leading multi-brand omni-channel retail distributor, will operate JD-branded stores and e-commerce in the country using JD’s brand, intellectual property and own-brand and exclusive product range.
The rollout begins in 2027, when Axo will convert more than 140 of its existing sneaker-store premises to the JD format, upsizing key locations over time to JD’s larger flagship layout. The deal is a franchise arrangement rather than a capital-intensive store-building programme, so JD earns from the licence and product relationship while Axo funds and runs the shops.
Mexico extends JD’s existing “JD Brand First” franchise strategy, under which JD and its Courir brand already run 75 franchise stores across Europe, the Middle East, Africa and Asia, building on an established presence in the US and Canada. North America made up 38% of group sales for the 52 weeks to 31 January 2026, and Mexico offers a similarly large consumer base without adding to that owned-store estate.
The commercial case rests on Mexico’s scale: a population of more than 130 million, around 40% of it under 25, an activewear market JD’s own release puts at roughly $6.5 billion and expected, citing IMARC, to exceed $10 billion by 2034, alongside e-commerce growth that JD’s release, citing Forbes, describes as among the fastest in the world.
JD said Axo’s 30-year record working with international brands in the country made it the right partner to deliver the opportunity, calling the tie-up another step in its “JD Brand First” strategy and part of its ambition to make JD the leading global sports fashion destination across the world’s most attractive consumer markets.
“This partnership is another important step in our ‘JD Brand First’ strategy and reinforces our ambition to make JD the leading global sports fashion destination across the world’s most attractive consumer markets.”
— Régis Schultz, CEO, JD Sports Fashion plc
The announcement lands after a rough week for JD shares, which closed on Friday at 73.72p, down 3.4% from 76.32p and well below their 52-week high of 104.73p.
That fall predates Monday’s announcement, and there is no confirmed reading yet of how the shares have responded to the Mexico news itself. With first stores not opening until 2027, the deal is a long-dated growth signal rather than a near-term earnings driver, one to weigh against a share price still trading beneath both its 50-day and 200-day moving averages.