Joma Returns to Brazil with Ambitious Expansion Plans
Spanish sports footwear brand Joma is making a comeback in Brazil, a decade after its first attempt. The company, which competes with giants like Adidas and Nike in Spain, is re-entering the stock market with ambitious plans to grow and secure a significant market share.
In 2012, Joma partnered with Alpargatas, a national distributor in Brazil, to establish a foothold in the sports shoe market. This time, Joma is determined to succeed where it faltered between 2002 and 2007, when market difficulties hindered its progress.
Joma is not limiting its expansion to Brazil alone. The company is also making inroads into the Chinese market, opening three new stores in Shanghai and Nanjing. Globally, Joma has six subsidiaries, including ones in Italy, Germany, Mexico, Hong Kong, Latin America, and the United States. In Brazil, Joma plans to distribute its four key sports lines: football, indoor football, athletics, and tennis.
To achieve its goals, Joma aims to be present in Brazilian stores from 2012 onwards and target a growth rate of 40% by 2014, the year of the football World Cup in Brazil. Unlike its previous strategy, Joma will operate in Brazil through a national distributor, breaking away from its Spanish subsidiary.
Joma's re-entry into the Brazilian market signals its commitment to growing its global footprint. With a national distributor in place and a clear strategy, the company is poised to challenge established brands and secure a place among the top five sports brands in Brazil.
