Latest / Omni Talk Retail / JD Sports CEO Regis Schultz on U.S. Growth, Gen Z, & Lifestyle Retail | World Retail Congress 2025

Transcript

JD Sports CEO Regis Schultz on U.S. Growth, Gen Z, & Lifestyle Retail | World Retail Congress 2025 · Omni Talk Retail

• 0:00
  Hello,
• 0:00
  everyone.
• 0:00
  This
• 0:00
  is
• 0:01
  omnitalk
• 0:01
  Retail.
• 0:01
  I'm
• 0:02
  Chris
• 0:02
  Walton.
• 0:02
  And
• 0:02
  I'm
• 0:02
  Anne
• 0:03
  Razinga.
• 0:03
  And
• 0:03
  we
• 0:03
  are
• 0:03
  coming
• 0:04
  to
• 0:04
  you
• 0:04
  live
• 0:04
  from
• 0:04
  the
• 0:05
  Vusion
• 0:05
  Group
• 0:05
  booth
• 0:06
  at
• 0:06
  the
• 0:06
  World
• 0:07
  Retail
• 0:07
  Congress.
• 0:08
  And
• 0:08
  I'm
• 0:08
  excited.
• 0:09
  We're
• 0:09
  kicking
• 0:09
  off
• 0:09
  our
• 0:10
  coverage
• 0:10
  today
• 0:11
  with
• 0:11
  none
• 0:11
  other
• 0:12
  than
• 0:12
  the
• 0:12
  CEO
• 0:12
  of
• 0:13
  JD
• 0:13
  Sports,
• 0:14
  Regis
• 0:14
  Schultz.
• 0:15
  Regis,
• 0:15
  welcome
• 0:16
  to
• 0:16
  omnitalk.
• 0:16
  Thank
• 0:17
  you.
• 0:18
  You
• 0:18
  just
• 0:18
  had
• 0:19
  a
• 0:19
  pretty
• 0:19
  phenomenal
• 0:20
  on
• 0:20
  stage
• 0:20
  performance.
• 0:21
  How
• 0:21
  are
• 0:21
  you
• 0:22
  feeling
• 0:22
  afterward?
• 0:23
  Very
• 0:23
  good,
• 0:24
  Very
• 0:24
  good.
• 0:25
  Well,
• 0:26
  I'd
• 0:26
  love
• 0:26
  to
• 0:26
  start.
• 0:27
  Start
• 0:27
  with
• 0:27
  a
• 0:27
  little
• 0:27
  bit
• 0:28
  of
• 0:28
  your
• 0:28
  background
• 0:29
  and
• 0:30
  what
• 0:30
  you
• 0:30
  oversee
• 0:31
  in
• 0:31
  your
• 0:31
  role
• 0:31
  at
• 0:31
  JD
• 0:32
  Sports,
• 0:32
  if
• 0:32
  you
• 0:32
  don't
• 0:32
  mind.
• 0:33
  Oh,
• 0:33
  background.
• 0:34
  I'm
• 0:34
  a
• 0:34
  retailer
• 0:34
  from
• 0:35
  day
• 0:35
  one.
• 0:35
  I
• 0:35
  was
• 0:35
  born
• 0:35
  in
• 0:36
  a
• 0:36
  shop.
• 0:36
  My
• 0:36
  mother
• 0:36
  had
• 0:37
  a
• 0:37
  shop.
• 0:38
  So
• 0:38
  I've
• 0:38
  been
• 0:38
  in
• 0:39
  retail
• 0:39
  for
• 0:39
  too
• 0:40
  long.
• 0:40
  But
• 0:40
  for
• 0:40
  a
• 0:41
  long
• 0:41
  time.
• 0:41
  What
• 0:41
  kind
• 0:41
  of
• 0:41
  shop
• 0:42
  did
• 0:42
  she
• 0:42
  have?
• 0:42
  She
• 0:42
  had
• 0:43
  an
• 0:43
  organic
• 0:43
  food
• 0:44
  shop.
• 0:44
  So
• 0:44
  she
• 0:44
  was
• 0:44
  quite
• 0:45
  ahead.
• 0:45
  Yeah,
• 0:46
  I'm
• 0:46
  very.
• 0:47
  I'm
• 0:47
  not
• 0:47
  so.
• 0:48
  So
• 0:48
  old.
• 0:49
  I'm
• 0:49
  very
• 0:50
  young.
• 0:50
  No,
• 0:50
  she
• 0:51
  was
• 0:51
  ahead
• 0:51
  of
• 0:51
  her
• 0:51
  time
• 0:52
  at
• 0:52
  that
• 0:52
  time.
• 0:52
  Yeah.
• 0:52
  Wow.
• 0:53
  Wow.
• 0:53
  That's
• 0:54
  unbelievable.
• 0:54
  And
• 0:55
  where
• 0:55
  did
• 0:55
  you
• 0:55
  grow
• 0:55
  up?
• 0:56
  In
• 0:57
  France.
• 0:58
  In
• 0:58
  France.
• 0:59
  You
• 0:59
  will
• 0:59
  see
• 0:59
  that
• 0:59
  with
• 1:00
  my
• 1:00
  accent.
• 1:00
  Yeah,
• 1:01
  no,
• 1:01
  not
• 1:02
  difficult.
• 1:02
  Not
• 1:02
  difficult
• 1:03
  to
• 1:03
  pick
• 1:03
  up.
• 1:04
  Well,
• 1:04
  and
• 1:04
  tell
• 1:04
  us
• 1:04
  a
• 1:04
  little
• 1:05
  bit
• 1:05
  about
• 1:05
  your
• 1:05
  role
• 1:05
  now
• 1:05
  at
• 1:06
  JD
• 1:06
  Sports.
• 1:06
  What
• 1:06
  do
• 1:06
  you
• 1:07
  oversee?
• 1:08
  Jd?
• 1:08
  You
• 1:09
  know,
• 1:09
  I
• 1:09
  have
• 1:09
  the
• 1:10
  pleasure
• 1:10
  the
• 1:10
  owner
• 1:11
  to
• 1:11
  be
• 1:11
  the
• 1:12
  CEO
• 1:12
  of
• 1:12
  JD
• 1:12
  Sport.
• 1:13
  She's
• 1:14
  a
• 1:14
  great
• 1:14
  business.
• 1:15
  Really
• 1:15
  a
• 1:15
  fantastic
• 1:16
  story
• 1:16
  from,
• 1:17
  you
• 1:17
  know,
• 1:18
  business
• 1:18
  create
• 1:18
  in
• 1:19
  Manchester
• 1:19
  in
• 1:20
  1981
• 1:21
  and
• 1:21
  today
• 1:22
  number
• 1:22
  one
• 1:23
  in
• 1:23
  the
• 1:23
  world
• 1:24
  and
• 1:24
  doing
• 1:24
  more
• 1:25
  than
• 1:25
  15
• 1:25
  billion
• 1:25
  US
• 1:26
  dollar
• 1:26
  turnover,
• 1:27
  more
• 1:27
  than
• 1:27
  1
• 1:28
  billion
• 1:28
  US
• 1:29
  dollar
• 1:29
  profits.
• 1:30
  Bigger
• 1:31
  than
• 1:31
  food,
• 1:31
  Tuka.
• 1:32
  Bigger
• 1:32
  than
• 1:32
  Dick's.
• 1:33
  So
• 1:34
  we
• 1:35
  are
• 1:35
  the
• 1:35
  number
• 1:35
  one
• 1:37
  uncontested.
• 1:39
  Biggest
• 1:39
  and
• 1:39
  number
• 1:40
  one
• 1:40
  seller.
• 1:40
  That's
• 1:41
  amazing.
• 1:41
  Bigger
• 1:41
  than
• 1:41
  Dicks.
• 1:42
  All
• 1:42
  right,
• 1:42
  so
• 1:43
  US
• 1:43
  expansion,
• 1:44
  it's
• 1:44
  been
• 1:44
  a
• 1:44
  big
• 1:45
  part
• 1:45
  of
• 1:45
  your
• 1:45
  strategy
• 1:46
  as
• 1:46
  you
• 1:46
  talked
• 1:46
  about.
• 1:48
  What
• 1:48
  do
• 1:49
  you
• 1:49
  find
• 1:49
  are
• 1:49
  the
• 1:49
  differences
• 1:49
  between
• 1:50
  the
• 1:50
  US
• 1:51
  customers,
• 1:52
  say,
• 1:52
  compared
• 1:52
  to
• 1:52
  the
• 1:53
  customer
• 1:53
  in
• 1:53
  Europe
• 1:54
  or
• 1:54
  other
• 1:54
  places?
• 1:55
  I
• 1:55
  think
• 1:55
  customers
• 1:56
  are
• 1:57
  the
• 1:57
  same.
• 1:57
  Are
• 1:57
  the
• 1:58
  same.
• 1:58
  Okay.
• 1:58
  Are
• 1:58
  the
• 1:59
  same.
• 1:59
  I
• 1:59
  think
• 1:59
  that,
• 1:59
  you
• 2:00
  know,
• 2:00
  there
• 2:00
  is
• 2:00
  always
• 2:00
  small
• 2:01
  difference.
• 2:01
  But
• 2:02
  you
• 2:02
  know,
• 2:02
  sneaker
• 2:03
  is
• 2:04
  the
• 2:04
  shoes
• 2:04
  and
• 2:05
  they
• 2:05
  go
• 2:06
  into
• 2:06
  our
• 2:06
  top
• 2:06
  seller
• 2:07
  are
• 2:07
  the
• 2:07
  same
• 2:07
  across
• 2:08
  the
• 2:08
  world.
• 2:08
  It's
• 2:08
  really
• 2:09
  interesting.
• 2:09
  If
• 2:09
  you
• 2:09
  take
• 2:10
  the
• 2:10
  top
• 2:11
  five
• 2:11
  will
• 2:12
  be
• 2:12
  the
• 2:12
  same.
• 2:13
  After
• 2:13
  that
• 2:13
  there
• 2:13
  is
• 2:14
  difference
• 2:14
  around
• 2:14
  the
• 2:15
  culture.
• 2:15
  So
• 2:15
  in
• 2:15
  US
• 2:16
  you
• 2:16
  have
• 2:16
  a
• 2:16
  strong
• 2:16
  basketball
• 2:17
  culture,
• 2:18
  in
• 2:18
  Europe,
• 2:18
  a
• 2:19
  strong
• 2:19
  football
• 2:19
  culture.
• 2:20
  So
• 2:20
  that
• 2:20
  will
• 2:20
  drive
• 2:21
  some
• 2:21
  of
• 2:21
  the
• 2:21
  difference.
• 2:23
  So
• 2:23
  that
• 2:23
  will
• 2:24
  be
• 2:24
  a
• 2:24
  difference.
• 2:25
  And
• 2:26
  after
• 2:26
  that,
• 2:26
  in
• 2:27
  terms
• 2:27
  of
• 2:27
  apparel,
• 2:27
  there
• 2:28
  is
• 2:28
  more
• 2:28
  difference
• 2:28
  because
• 2:29
  UK
• 2:29
  you
• 2:30
  have
• 2:30
  a.
• 2:30
  Which
• 2:30
  is
• 2:30
  linked
• 2:31
  to
• 2:31
  football,
• 2:32
  a
• 2:32
  strong
• 2:33
  tracksuit
• 2:34
  culture.
• 2:34
  That
• 2:35
  doesn't
• 2:35
  exist
• 2:35
  in
• 2:36
  us.
• 2:36
  So
• 2:37
  you
• 2:37
  see
• 2:37
  that
• 2:38
  the
• 2:38
  sport,
• 2:38
  the
• 2:39
  culture
• 2:39
  of
• 2:39
  sport
• 2:39
  is
• 2:40
  passed
• 2:41
  is
• 2:41
  driving
• 2:41
  the
• 2:42
  difference
• 2:42
  that
• 2:42
  we
• 2:42
  can
• 2:43
  find.
• 2:43
  But
• 2:44
  you
• 2:44
  know,
• 2:44
  at
• 2:45
  the
• 2:45
  end
• 2:45
  what
• 2:45
  the
• 2:45
  consumer
• 2:46
  wants
• 2:46
  is
• 2:46
  the
• 2:46
  same.
• 2:46
  They
• 2:47
  want
• 2:47
  new
• 2:47
  products,
• 2:47
  they
• 2:48
  want
• 2:48
  exciting
• 2:48
  story,
• 2:49
  they
• 2:49
  want
• 2:50
  a
• 2:50
  product
• 2:50
  not
• 2:51
  only
• 2:51
  for
• 2:51
  the
• 2:52
  product
• 2:52
  but
• 2:52
  what's
• 2:53
  the
• 2:53
  magic
• 2:53
  around
• 2:53
  it.
• 2:54
  What's
• 2:54
  the
• 2:54
  story
• 2:54
  and
• 2:55
  what's
• 2:55
  the
• 2:55
  story
• 2:56
  that
• 2:56
  we
• 2:56
  are
• 2:56
  telling
• 2:57
  with
• 2:57
  the
• 2:57
  product
• 2:57
  and
• 2:58
  we
• 2:59
  why
• 2:59
  we
• 2:59
  have
• 3:00
  been
• 3:00
  successful
• 3:01
  is
• 3:01
  that
• 3:02
  we
• 3:02
  are
• 3:02
  just
• 3:03
  all
• 3:03
  about
• 3:03
  lifestyle.
• 3:04
  So
• 3:04
  we
• 3:04
  are
• 3:04
  not
• 3:05
  talking
• 3:05
  about
• 3:05
  sport,
• 3:06
  we
• 3:06
  are
• 3:06
  talking
• 3:06
  about
• 3:07
  talking
• 3:07
  about
• 3:07
  the
• 3:07
  street
• 3:08
  and
• 3:08
  how
• 3:09
  you
• 3:09
  bring
• 3:10
  something
• 3:10
  that
• 3:10
  was
• 3:10
  designed
• 3:11
  at
• 3:11
  the
• 3:11
  beginning
• 3:12
  for
• 3:13
  the
• 3:13
  stadium
• 3:14
  that
• 3:14
  is
• 3:14
  now
• 3:15
  in
• 3:15
  the
• 3:15
  street
• 3:15
  and
• 3:16
  that's
• 3:16
  what
• 3:16
  we
• 3:16
  make.
• 3:17
  And
• 3:17
  that
• 3:17
  has
• 3:17
  been
• 3:17
  the
• 3:18
  major
• 3:18
  development
• 3:18
  in
• 3:19
  the
• 3:19
  last
• 3:19
  15
• 3:20
  years
• 3:21
  where
• 3:22
  the
• 3:22
  sport
• 3:23
  apparel
• 3:24
  has
• 3:24
  been
• 3:24
  and
• 3:24
  the
• 3:25
  sports
• 3:25
  shoes
• 3:25
  has
• 3:25
  been
• 3:26
  moving
• 3:26
  from
• 3:26
  the
• 3:27
  stadium
• 3:27
  to
• 3:27
  the
• 3:27
  street.
• 3:28
  And
• 3:28
  we
• 3:28
  have
• 3:28
  been
• 3:28
  the
• 3:29
  first
• 3:29
  one
• 3:29
  to
• 3:29
  do
• 3:29
  that
• 3:30
  and
• 3:30
  we
• 3:30
  are
• 3:30
  the
• 3:30
  only
• 3:31
  pure
• 3:31
  player
• 3:31
  on
• 3:32
  doing
• 3:32
  that.
• 3:32
  Because
• 3:33
  if
• 3:33
  you
• 3:33
  take
• 3:34
  Nike
• 3:34
  Adidas,
• 3:35
  they
• 3:35
  are
• 3:36
  about
• 3:36
  sport
• 3:36
  and
• 3:36
  they
• 3:37
  need
• 3:37
  to
• 3:37
  continue
• 3:37
  to
• 3:37
  be
• 3:38
  at
• 3:38
  sports.
• 3:39
  We
• 3:39
  don't
• 3:39
  claim
• 3:40
  anything
• 3:40
  on
• 3:40
  sport,
• 3:40
  we
• 3:41
  claim
• 3:41
  to
• 3:42
  be
• 3:42
  a
• 3:42
  lifestyle
• 3:43
  player
• 3:43
  to
• 3:44
  offer
• 3:44
  fashion
• 3:45
  to
• 3:45
  our
• 3:45
  customer
• 3:47
  and
• 3:47
  we
• 3:47
  do
• 3:47
  only
• 3:48
  in
• 3:48
  one
• 3:48
  category
• 3:48
  which
• 3:49
  is
• 3:49
  everything
• 3:49
  that
• 3:50
  is
• 3:50
  coming
• 3:50
  from
• 3:51
  sport.
• 3:52
  So
• 3:52
  I
• 3:53
  want
• 3:53
  to
• 3:53
  push
• 3:53
  you
• 3:53
  a
• 3:53
  little
• 3:53
  bit
• 3:53
  on
• 3:53
  that
• 3:53
  or
• 3:54
  ask
• 3:54
  you
• 3:54
  a
• 3:54
  follow
• 3:54
  up
• 3:54
  question
• 3:54
  on
• 3:55
  that.
• 3:55
  So
• 3:55
  from
• 3:55
  an
• 3:55
  omnichannel
• 3:56
  perspective,
• 3:57
  when
• 3:57
  you
• 3:57
  think
• 3:57
  about
• 3:57
  because
• 3:58
  we're
• 3:58
  here
• 3:58
  at
• 3:58
  this
• 3:58
  conference,
• 3:59
  we
• 3:59
  were
• 3:59
  hearing
• 3:59
  a
• 3:59
  lot
• 3:59
  this
• 4:00
  morning
• 4:00
  about
• 4:01
  the
• 4:01
  need
• 4:01
  to
• 4:01
  get
• 4:01
  things
• 4:02
  quickly.
• 4:02
  Do
• 4:03
  you
• 4:03
  see
• 4:03
  any
• 4:03
  differences
• 4:03
  in
• 4:04
  terms
• 4:04
  of
• 4:04
  that
• 4:04
  across
• 4:05
  the
• 4:05
  seas,
• 4:05
  us
• 4:06
  versus
• 4:06
  on
• 4:07
  Europe?
• 4:08
  No.
• 4:09
  Pretty
• 4:09
  similar.
• 4:09
  As
• 4:10
  I
• 4:10
  say,
• 4:10
  what
• 4:10
  customer
• 4:11
  across
• 4:11
  the
• 4:11
  world
• 4:11
  they
• 4:12
  want
• 4:12
  new
• 4:12
  stuff,
• 4:12
  they
• 4:13
  want
• 4:13
  new
• 4:14
  new
• 4:14
  products,
• 4:15
  they
• 4:15
  want
• 4:15
  exciting
• 4:16
  story,
• 4:16
  they
• 4:17
  want
• 4:17
  innovation,
• 4:17
  that's
• 4:18
  what
• 4:18
  they
• 4:18
  want
• 4:18
  and
• 4:19
  that
• 4:19
  is
• 4:19
  across
• 4:20
  the
• 4:21
  globe.
• 4:21
  And
• 4:21
  with
• 4:22
  TikTok,
• 4:23
  one
• 4:23
  of
• 4:23
  the
• 4:23
  most
• 4:24
  phenomenal
• 4:24
  success
• 4:25
  shoes
• 4:25
  has
• 4:26
  been,
• 4:26
  one
• 4:26
  that
• 4:26
  big
• 4:27
  is
• 4:27
  creating
• 4:27
  only
• 4:27
  on
• 4:28
  TikTok
• 4:28
  and
• 4:29
  TikTok
• 4:30
  is
• 4:30
  worldwide,
• 4:31
  is
• 4:31
  global
• 4:32
  and
• 4:32
  that
• 4:32
  go
• 4:32
  across
• 4:33
  the
• 4:33
  globe
• 4:33
  very
• 4:34
  quickly
• 4:34
  like
• 4:35
  that.
• 4:35
  Regis,
• 4:36
  I
• 4:36
  was
• 4:36
  just
• 4:36
  going
• 4:37
  to
• 4:37
  ask
• 4:37
  you
• 4:37
  that
• 4:37
  actually
• 4:37
  you
• 4:38
  said
• 4:38
  that
• 4:38
  you
• 4:38
  don't
• 4:38
  see
• 4:39
  a
• 4:39
  difference
• 4:39
  in
• 4:39
  what
• 4:40
  consumers
• 4:40
  want.
• 4:40
  Like
• 4:41
  the
• 4:41
  top
• 4:41
  five
• 4:41
  products
• 4:42
  are
• 4:42
  the
• 4:42
  same.
• 4:42
  Is
• 4:43
  that
• 4:43
  true
• 4:43
  when
• 4:44
  you
• 4:44
  start
• 4:44
  thinking
• 4:44
  about
• 4:46
  getting
• 4:46
  into
• 4:47
  the
• 4:47
  hearts
• 4:47
  and
• 4:47
  minds
• 4:48
  of
• 4:48
  Gen
• 4:48
  Z
• 4:48
  when
• 4:49
  you
• 4:49
  start
• 4:49
  to
• 4:49
  try
• 4:49
  to
• 4:49
  approach
• 4:50
  that
• 4:50
  generation
• 4:50
  you
• 4:51
  mentioned
• 4:51
  via
• 4:51
  TikTok
• 4:52
  but
• 4:52
  are
• 4:52
  there
• 4:52
  differences
• 4:53
  in
• 4:53
  how
• 4:53
  you're
• 4:54
  going
• 4:54
  after
• 4:54
  that
• 4:54
  generation
• 4:55
  to
• 4:55
  really
• 4:55
  bring
• 4:55
  them
• 4:56
  into
• 4:56
  the
• 4:56
  JD
• 4:56
  family?
• 4:57
  Yeah,
• 4:57
  because
• 4:58
  we
• 4:58
  are
• 4:58
  all
• 4:58
  about
• 4:58
  the
• 4:59
  other
• 4:59
  part
• 4:59
  of
• 4:59
  the
• 4:59
  success
• 5:00
  of
• 5:00
  JD
• 5:00
  has
• 5:01
  been
• 5:01
  really
• 5:02
  targeting
• 5:02
  and
• 5:03
  talking
• 5:03
  with
• 5:04
  this
• 5:04
  teenager
• 5:04
  customer.
• 5:05
  And
• 5:06
  that
• 5:06
  is
• 5:06
  where
• 5:06
  you
• 5:07
  are
• 5:07
  multi
• 5:07
  brand
• 5:07
  by
• 5:07
  definition.
• 5:08
  You
• 5:08
  just
• 5:08
  get
• 5:08
  rid
• 5:09
  of
• 5:09
  your
• 5:09
  mom
• 5:09
  deciding
• 5:10
  for
• 5:10
  you.
• 5:10
  You
• 5:10
  don't
• 5:10
  want
• 5:10
  a
• 5:10
  brand
• 5:11
  dictating.
• 5:12
  So
• 5:12
  you
• 5:13
  are
• 5:13
  multi
• 5:13
  brand
• 5:13
  by
• 5:14
  definition.
• 5:14
  That's
• 5:15
  what
• 5:15
  we
• 5:15
  deliver
• 5:15
  for
• 5:16
  them.
• 5:16
  You
• 5:16
  want
• 5:17
  to
• 5:17
  be
• 5:17
  able
• 5:17
  to
• 5:19
  cross,
• 5:21
  to
• 5:21
  take
• 5:22
  stuff
• 5:22
  from
• 5:23
  one
• 5:24
  one
• 5:24
  brand
• 5:24
  to
• 5:24
  another
• 5:24
  one.
• 5:25
  You
• 5:25
  know,
• 5:25
  when
• 5:25
  you
• 5:25
  are
• 5:25
  lifestyle
• 5:26
  in
• 5:26
  the
• 5:26
  street,
• 5:26
  it's
• 5:27
  really
• 5:27
  rare
• 5:27
  that
• 5:27
  you
• 5:27
  have
• 5:27
  only
• 5:28
  one
• 5:28
  brand.
• 5:28
  So
• 5:29
  you
• 5:29
  will
• 5:29
  have
• 5:29
  a
• 5:29
  little
• 5:29
  bit
• 5:29
  of
• 5:29
  Nike,
• 5:30
  a
• 5:30
  little
• 5:30
  bit
• 5:30
  of
• 5:30
  Adidas,
• 5:31
  because
• 5:32
  that's
• 5:32
  lifestyle.
• 5:33
  That's
• 5:33
  what
• 5:33
  we
• 5:33
  do.
• 5:34
  No
• 5:35
  D2C
• 5:35
  can
• 5:36
  do
• 5:36
  that.
• 5:36
  And
• 5:36
  you
• 5:37
  know,
• 5:37
  and
• 5:37
  we
• 5:37
  see,
• 5:38
  you
• 5:38
  know,
• 5:38
  things
• 5:38
  which,
• 5:39
  you
• 5:39
  know,
• 5:39
  in
• 5:39
  the
• 5:39
  street
• 5:40
  you
• 5:40
  see,
• 5:40
  you
• 5:40
  know,
• 5:41
  for
• 5:41
  example,
• 5:42
  latest
• 5:42
  trend
• 5:43
  is
• 5:43
  around
• 5:43
  this
• 5:44
  compression
• 5:44
  thing
• 5:45
  that
• 5:45
  is
• 5:45
  very
• 5:46
  technical.
• 5:46
  But
• 5:47
  they
• 5:47
  put
• 5:47
  that
• 5:48
  as
• 5:48
  a
• 5:48
  lifestyle
• 5:48
  because
• 5:49
  they
• 5:49
  want
• 5:50
  to
• 5:50
  show,
• 5:50
  because
• 5:50
  they
• 5:51
  go
• 5:51
  to
• 5:51
  the
• 5:51
  gym,
• 5:51
  they
• 5:51
  want
• 5:52
  to
• 5:52
  showcase
• 5:53
  their
• 5:53
  body.
• 5:53
  And
• 5:54
  you
• 5:54
  know,
• 5:54
  this
• 5:55
  is
• 5:55
  a
• 5:55
  lifestyle
• 5:56
  product
• 5:56
  which
• 5:56
  is
• 5:56
  a
• 5:56
  very,
• 5:57
  very
• 5:57
  technical.
• 5:58
  And
• 5:58
  you
• 5:58
  know
• 5:58
  what,
• 5:59
  the
• 5:59
  brand
• 5:59
  has
• 5:59
  not
• 6:00
  done
• 6:00
  so
• 6:00
  well.
• 6:00
  And
• 6:00
  some
• 6:00
  of
• 6:01
  the
• 6:01
  other
• 6:01
  retailers,
• 6:01
  they
• 6:02
  continue
• 6:02
  to
• 6:02
  talk
• 6:02
  to
• 6:03
  the
• 6:03
  consumer
• 6:04
  about
• 6:04
  a
• 6:04
  technical
• 6:05
  product.
• 6:05
  We
• 6:05
  don't,
• 6:06
  we
• 6:06
  talk
• 6:06
  no
• 6:07
  technical.
• 6:07
  We
• 6:07
  just,
• 6:08
  you
• 6:08
  know,
• 6:08
  the
• 6:08
  way
• 6:08
  we
• 6:09
  merchandise
• 6:09
  our
• 6:10
  product
• 6:10
  is
• 6:10
  like
• 6:12
  Zara
• 6:13
  Capsule
• 6:14
  the
• 6:14
  same
• 6:14
  way.
• 6:14
  So,
• 6:15
  and
• 6:15
  we
• 6:15
  change
• 6:15
  it
• 6:16
  very
• 6:16
  frequently.
• 6:17
  We
• 6:17
  change
• 6:17
  across
• 6:18
  the
• 6:18
  story.
• 6:18
  We
• 6:18
  build
• 6:19
  story
• 6:19
  together.
• 6:20
  That's
• 6:20
  fashion.
• 6:21
  So
• 6:21
  Regis,
• 6:22
  how
• 6:22
  do
• 6:22
  you,
• 6:22
  how
• 6:22
  are
• 6:22
  you
• 6:23
  working
• 6:23
  then
• 6:23
  with
• 6:23
  the
• 6:23
  brands
• 6:24
  to
• 6:24
  tell
• 6:24
  that
• 6:24
  story?
• 6:25
  Because
• 6:25
  that's
• 6:25
  a
• 6:25
  very
• 6:25
  different
• 6:26
  mentality
• 6:26
  for
• 6:26
  them.
• 6:27
  And
• 6:27
  when
• 6:27
  you're
• 6:27
  a
• 6:28
  multi
• 6:28
  brand
• 6:28
  player,
• 6:28
  I'm
• 6:29
  sure
• 6:29
  you
• 6:29
  have
• 6:29
  to
• 6:29
  have
• 6:29
  those
• 6:29
  conversations.
• 6:30
  And
• 6:31
  that's
• 6:31
  why
• 6:31
  we
• 6:31
  are
• 6:32
  50%
• 6:33
  of
• 6:33
  what
• 6:33
  we're
• 6:33
  offering
• 6:33
  is
• 6:34
  what
• 6:34
  we
• 6:34
  call
• 6:34
  SMU,
• 6:35
  which
• 6:35
  is
• 6:35
  specific
• 6:35
  product,
• 6:36
  because
• 6:36
  we
• 6:36
  come
• 6:37
  to
• 6:37
  the
• 6:37
  brand
• 6:37
  and
• 6:37
  to
• 6:37
  say
• 6:39
  we
• 6:39
  don't
• 6:39
  want
• 6:39
  a
• 6:39
  product,
• 6:40
  we
• 6:40
  want
• 6:40
  a
• 6:40
  story.
• 6:41
  We
• 6:41
  want,
• 6:42
  we
• 6:43
  want
• 6:43
  something
• 6:43
  that
• 6:44
  is
• 6:44
  around
• 6:44
  style,
• 6:45
  which
• 6:45
  is
• 6:45
  around
• 6:45
  story.
• 6:46
  And
• 6:46
  that's
• 6:46
  why
• 6:47
  we
• 6:47
  have
• 6:47
  been
• 6:47
  developing
• 6:48
  our
• 6:48
  own
• 6:48
  product
• 6:49
  with
• 6:49
  the
• 6:49
  brand.
• 6:49
  So
• 6:49
  we
• 6:50
  benefit
• 6:50
  from
• 6:51
  the
• 6:51
  brand
• 6:51
  expertise,
• 6:53
  manufacturing,
• 6:54
  brand
• 6:54
  work,
• 6:55
  and
• 6:55
  we
• 6:56
  build
• 6:56
  story
• 6:56
  together.
• 6:56
  And
• 6:57
  when
• 6:57
  it's
• 6:57
  the
• 6:57
  most
• 6:57
  powerful
• 6:58
  is
• 6:58
  when
• 6:58
  we
• 6:58
  do
• 6:58
  that
• 6:59
  together.
• 6:59
  Because
• 7:00
  this
• 7:00
  partnership
• 7:01
  is
• 7:01
  incredible.
• 7:02
  We
• 7:02
  know
• 7:02
  the
• 7:02
  customer
• 7:03
  better
• 7:03
  than
• 7:03
  the
• 7:03
  brand
• 7:04
  because
• 7:04
  we
• 7:04
  have
• 7:04
  them
• 7:04
  in
• 7:05
  our
• 7:05
  store.
• 7:06
  They
• 7:06
  know
• 7:06
  the
• 7:06
  product
• 7:07
  better
• 7:07
  than
• 7:08
  we
• 7:08
  do.
• 7:09
  And
• 7:09
  putting
• 7:09
  the
• 7:10
  two
• 7:10
  together,
• 7:10
  it's
• 7:11
  magic.
• 7:11
  Yeah,
• 7:11
  you're
• 7:12
  taking
• 7:12
  that
• 7:12
  data
• 7:12
  that
• 7:13
  you
• 7:13
  have
• 7:13
  across
• 7:13
  from
• 7:14
  their
• 7:14
  cross
• 7:14
  brand
• 7:14
  preferences
• 7:15
  and
• 7:16
  kind
• 7:16
  of
• 7:16
  helping
• 7:16
  inform
• 7:17
  those
• 7:17
  products
• 7:17
  that
• 7:17
  you
• 7:18
  need
• 7:18
  to
• 7:18
  be
• 7:18
  creating.
• 7:18
  That's
• 7:19
  really
• 7:19
  cool.
• 7:20
  Have
• 7:20
  you
• 7:21
  been
• 7:21
  to
• 7:21
  the
• 7:22
  World
• 7:22
  Retail
• 7:23
  Congress
• 7:23
  before?
• 7:24
  Yes.
• 7:25
  Yeah.
• 7:26
  Yes,
• 7:26
  yes.
• 7:28
  What
• 7:28
  are
• 7:28
  you
• 7:28
  looking
• 7:29
  forward
• 7:29
  to
• 7:29
  this
• 7:29
  year?
• 7:29
  What
• 7:30
  are
• 7:30
  you
• 7:30
  excited
• 7:30
  about?
• 7:31
  I
• 7:31
  think
• 7:31
  it's
• 7:31
  meeting
• 7:31
  people,
• 7:32
  you
• 7:32
  know,
• 7:32
  it's
• 7:32
  always,
• 7:33
  you
• 7:33
  know,
• 7:34
  it's
• 7:34
  always
• 7:34
  great
• 7:35
  to.
• 7:36
  To
• 7:36
  be
• 7:36
  able
• 7:36
  to
• 7:36
  meet
• 7:36
  in
• 7:36
  person.
• 7:37
  That's,
• 7:37
  you
• 7:38
  know,
• 7:38
  that's
• 7:38
  what
• 7:38
  make
• 7:39
  the
• 7:39
  human
• 7:40
  different
• 7:40
  than
• 7:41
  talking
• 7:42
  through
• 7:42
  a
• 7:42
  screen.
• 7:44
  100.
• 7:45
  So
• 7:45
  the
• 7:45
  personal
• 7:45
  connections,
• 7:46
  that's
• 7:46
  what
• 7:46
  brings
• 7:46
  you
• 7:46
  here.
• 7:47
  How
• 7:47
  many
• 7:47
  times
• 7:47
  have
• 7:47
  you
• 7:47
  been
• 7:48
  here?
• 7:48
  Have
• 7:48
  you
• 7:48
  lost
• 7:48
  count?
• 7:50
  Yes.
• 7:51
  Yeah,
• 7:51
  yeah.
• 7:51
  Too
• 7:52
  many
• 7:52
  to
• 7:52
  count.
• 7:52
  Too
• 7:52
  many,
• 7:53
  Too
• 7:53
  many.
• 7:53
  I'm
• 7:53
  too
• 7:53
  old
• 7:53
  now.
• 7:54
  Yeah.
• 7:55
  Back
• 7:55
  in
• 7:55
  the
• 7:55
  day
• 7:55
  when
• 7:56
  we
• 7:56
  used
• 7:56
  to
• 7:56
  show
• 7:56
  off
• 7:56
  our
• 7:56
  bodies
• 7:57
  in
• 7:57
  the
• 7:57
  gym,
• 7:57
  like
• 7:58
  you
• 7:58
  mentioned
• 7:58
  before,
• 7:59
  before
• 7:59
  we
• 7:59
  all
• 8:00
  got
• 8:00
  old.
• 8:00
  All
• 8:01
  right,
• 8:01
  so
• 8:01
  what
• 8:01
  are
• 8:01
  your
• 8:01
  priorities
• 8:02
  for
• 8:02
  2025?
• 8:03
  Like,
• 8:03
  what
• 8:03
  are
• 8:03
  you
• 8:03
  looking
• 8:03
  to
• 8:04
  accomplish
• 8:04
  here
• 8:04
  by
• 8:04
  year
• 8:05
  end?
• 8:05
  And
• 8:05
  how
• 8:05
  are
• 8:05
  you
• 8:05
  Looking
• 8:06
  already
• 8:06
  into
• 8:06
  2026?
• 8:07
  What's
• 8:08
  on
• 8:08
  your
• 8:08
  mind?
• 8:09
  Well,
• 8:09
  you
• 8:09
  know,
• 8:09
  it's
• 8:10
  very
• 8:10
  volatile
• 8:11
  out
• 8:11
  there,
• 8:12
  so,
• 8:12
  you
• 8:12
  know,
• 8:13
  priority
• 8:13
  can
• 8:13
  change
• 8:14
  every
• 8:14
  day.
• 8:14
  So.
• 8:15
  But
• 8:16
  I
• 8:16
  think
• 8:16
  that,
• 8:17
  no,
• 8:17
  I
• 8:17
  think
• 8:17
  for
• 8:17
  us,
• 8:18
  it
• 8:18
  is
• 8:19
  really
• 8:19
  around
• 8:20
  continuing
• 8:20
  our
• 8:21
  success
• 8:21
  and
• 8:22
  our
• 8:22
  organic
• 8:22
  development
• 8:23
  in
• 8:23
  US
• 8:23
  and
• 8:24
  in
• 8:24
  Europe
• 8:24
  because
• 8:25
  we.
• 8:25
  We
• 8:25
  have
• 8:25
  on
• 8:26
  a.
• 8:26
  We
• 8:26
  have
• 8:26
  a
• 8:26
  fantastic
• 8:27
  story.
• 8:27
  You
• 8:28
  know,
• 8:29
  we
• 8:29
  start
• 8:30
  us
• 8:30
  in
• 8:30
  2019.
• 8:32
  We
• 8:32
  bought
• 8:32
  a
• 8:32
  business
• 8:33
  finish
• 8:33
  line,
• 8:34
  1.5
• 8:36
  billion
• 8:36
  turnover,
• 8:37
  making
• 8:38
  no
• 8:38
  profit,
• 8:38
  losing
• 8:39
  a
• 8:39
  little
• 8:39
  bit
• 8:39
  of
• 8:39
  money.
• 8:40
  We
• 8:40
  are
• 8:40
  today
• 8:40
  a
• 8:41
  6
• 8:41
  billion
• 8:41
  business,
• 8:42
  making
• 8:43
  10%
• 8:44
  profit.
• 8:45
  So
• 8:45
  that
• 8:46
  is
• 8:46
  our
• 8:46
  story.
• 8:46
  And
• 8:46
  we
• 8:47
  continue
• 8:47
  on
• 8:47
  that
• 8:47
  trend.
• 8:48
  Same
• 8:48
  in
• 8:49
  Europe.
• 8:49
  We
• 8:49
  start
• 8:49
  from
• 8:50
  nowhere.
• 8:51
  In
• 8:51
  France,
• 8:51
  in
• 8:51
  fact,
• 8:52
  we
• 8:52
  start
• 8:52
  by
• 8:53
  buying
• 8:54
  a
• 8:54
  very
• 8:54
  small
• 8:54
  business,
• 8:55
  let's
• 8:55
  say
• 8:55
  300
• 8:56
  million
• 8:56
  business.
• 8:58
  And
• 8:58
  we
• 8:58
  are
• 8:58
  now
• 8:58
  around
• 8:59
  4,
• 8:59
  5
• 9:00
  billion
• 9:00
  in
• 9:00
  Europe.
• 9:01
  That's
• 9:01
  what
• 9:01
  we
• 9:01
  do.
• 9:02
  We
• 9:02
  develop
• 9:02
  the
• 9:02
  brand.
• 9:03
  And
• 9:04
  that
• 9:04
  is
• 9:04
  my
• 9:04
  first
• 9:05
  priority.
• 9:05
  Second
• 9:06
  priority
• 9:07
  is
• 9:07
  to
• 9:07
  build
• 9:08
  infrastructure
• 9:09
  to
• 9:09
  make
• 9:09
  this
• 9:10
  sustainable.
• 9:11
  So
• 9:11
  I
• 9:11
  want
• 9:11
  to
• 9:11
  make
• 9:11
  sure
• 9:12
  I
• 9:12
  got
• 9:12
  those
• 9:13
  statistics
• 9:13
  right.
• 9:13
  And
• 9:14
  for
• 9:14
  our
• 9:14
  audience
• 9:14
  back
• 9:14
  home
• 9:15
  too,
• 9:15
  particularly
• 9:15
  because
• 9:15
  you
• 9:15
  guys
• 9:16
  are
• 9:16
  still
• 9:16
  relatively
• 9:16
  new,
• 9:17
  six
• 9:17
  years,
• 9:17
  essentially,
• 9:18
  on
• 9:18
  the
• 9:18
  JD
• 9:18
  Sports
• 9:19
  label.
• 9:19
  So
• 9:19
  you
• 9:20
  said
• 9:20
  from
• 9:20
  2019
• 9:21
  to
• 9:21
  2025,
• 9:22
  you
• 9:22
  went
• 9:22
  from
• 9:22
  $1.5
• 9:23
  billion
• 9:23
  in
• 9:24
  sales
• 9:24
  in
• 9:24
  the
• 9:24
  US
• 9:24
  to
• 9:23
  $6
• 9:24
  billion.
• 9:26
  Is
• 9:26
  that
• 9:26
  right?
• 9:26
  That's
• 9:27
  right.
• 9:27
  And
• 9:28
  what
• 9:28
  is
• 9:28
  fueling
• 9:28
  that
• 9:29
  growth,
• 9:29
  particularly
• 9:30
  like,
• 9:30
  where's
• 9:30
  that
• 9:30
  growth
• 9:31
  coming
• 9:31
  from?
• 9:32
  It's
• 9:32
  coming
• 9:32
  from
• 9:33
  our
• 9:34
  proposition.
• 9:34
  You
• 9:35
  know,
• 9:35
  new
• 9:36
  store,
• 9:36
  new
• 9:36
  stores,
• 9:37
  investment
• 9:38
  in
• 9:38
  the
• 9:38
  store
• 9:38
  proposition,
• 9:39
  you
• 9:39
  know,
• 9:40
  believing
• 9:40
  in
• 9:40
  our
• 9:40
  store,
• 9:41
  believing
• 9:42
  in
• 9:42
  our
• 9:42
  people,
• 9:43
  the
• 9:43
  right
• 9:43
  product
• 9:44
  for
• 9:44
  the
• 9:44
  right
• 9:44
  customer.
• 9:45
  That's
• 9:45
  really
• 9:45
  around,
• 9:46
  you
• 9:46
  know,
• 9:46
  delivering
• 9:48
  a
• 9:48
  great
• 9:48
  experience
• 9:48
  for
• 9:49
  the
• 9:49
  consumer.
• 9:49
  And
• 9:49
  how
• 9:49
  much
• 9:49
  has
• 9:50
  the
• 9:50
  store
• 9:50
  base
• 9:50
  changed
• 9:51
  over
• 9:51
  that
• 9:51
  period
• 9:51
  of
• 9:51
  time?
• 9:52
  It's.
• 9:54
  We
• 9:54
  add,
• 9:55
  so
• 9:55
  through
• 9:55
  acquisition,
• 9:56
  1,000
• 9:57
  stores.
• 9:57
  So
• 9:58
  we
• 9:58
  double.
• 9:58
  We
• 9:58
  double
• 9:58
  the
• 9:59
  store
• 9:59
  a
• 9:59
  little
• 10:00
  bit
• 10:00
  more
• 10:00
  than
• 10:00
  that.
• 10:00
  Yeah.
• 10:00
  Okay,
• 10:01
  got
• 10:01
  it,
• 10:01
  got
• 10:01
  it.
• 10:01
  Okay,
• 10:01
  great.
• 10:02
  Well,
• 10:02
  Ridges,
• 10:03
  we
• 10:03
  want
• 10:03
  to
• 10:03
  just
• 10:03
  say
• 10:03
  thank
• 10:04
  you
• 10:04
  so
• 10:04
  much
• 10:04
  for
• 10:05
  taking
• 10:06
  time
• 10:06
  today
• 10:06
  to
• 10:07
  stop
• 10:07
  by
• 10:07
  and
• 10:08
  talk
• 10:08
  to
• 10:08
  our
• 10:09
  our
• 10:09
  audience
• 10:09
  today.
• 10:10
  Thanks
• 10:10
  to
• 10:10
  all
• 10:11
  of
• 10:11
  you
• 10:11
  who
• 10:11
  are
• 10:11
  following
• 10:11
  along.
• 10:12
  Chris
• 10:12
  and
• 10:12
  I
• 10:13
  will
• 10:13
  be
• 10:13
  here
• 10:14
  for
• 10:14
  a
• 10:14
  little
• 10:14
  bit
• 10:14
  while
• 10:15
  a
• 10:15
  longer
• 10:16
  the
• 10:16
  weather
• 10:17
  is
• 10:17
  great
• 10:17
  and
• 10:17
  then
• 10:17
  also
• 10:18
  the
• 10:18
  rest
• 10:18
  of
• 10:18
  the
• 10:18
  week,
• 10:19
  so
• 10:19
  come
• 10:20
  stop
• 10:20
  by.
• 10:20
  Thanks
• 10:21
  again
• 10:21
  to
• 10:21
  Fusion
• 10:21
  Group
• 10:21
  for
• 10:22
  their
• 10:22
  support
• 10:22
  of
• 10:22
  all
• 10:22
  of
• 10:22
  our
• 10:23
  coverage
• 10:23
  here
• 10:23
  from
• 10:23
  the
• 10:23
  World
• 10:24
  Retail
• 10:24
  Congress.
• 10:24
  And
• 10:25
  until
• 10:25
  next
• 10:25
  time,
• 10:25
  be
• 10:26
  careful
• 10:26
  out
• 10:26
  there.