JD Sports’ Cosmos Sport moves to acquire Sport Vision Greece

Cosmos Sport seeks full control

Cosmos Sport, the JD Sports subsidiary, is moving to acquire 100% of Sport Vision Greece from BDS Sport Group. Capital.gr reported that the transaction was notified to the Hellenic Competition Commission on 2 October and remains subject to regulatory approval. It follows JD Sports’ acquisition of the remaining shares in Cosmos Sport, ending the Tsiknakis family’s 44-year involvement in the company.

The target operates 20 physical locations: 10 Sport Vision stores, nine Buzz Sneaker Station outlets and one Tike store. Sport Vision serves the broad multibrand sports market, while Buzz focuses on sneakers and streetwear and Tike has a stronger lifestyle positioning. These formats overlap with Cosmos Sport, JD Sports and Sneaker10 in several commercial areas, including Glyfada, Peristeri, Patras, Piraeus, Thessaloniki and Kalamata.

A larger network with overlapping formats

Cosmos Sport enters the transaction from a much stronger financial position. For the year ended 31 January 2026, it recorded revenue of €212.2 million, up 16.1%, EBITDA of €39.45 million and pre-tax profit of €20 million. The company says it has more than 99 stores in Greece and Cyprus under the Cosmos Sport, JD Sports, Sneaker10, SlamDunk and Rundome brands, alongside eight online stores and more than 1,700 employees.

Sport Vision Greece expanded rapidly but remained loss-making. Its 2024 revenue increased by 42.4% to €18.58 million, while losses reached approximately €5.4 million, according to Capital.gr. The business received €4 million through two capital increases in June 2025. A further €12.8 million increase was approved on 18 August 2026, lifting share capital from €7.845 million to €20.645 million.

The combined store count is unlikely to represent the final network. Management will have to assess each location according to sales potential, performance, lease cost and duration, and its overlap with existing Cosmos outlets. Consolidation could produce closures, relocations or changes of brand, particularly where the two groups already target similar sneaker, streetwear and multibrand customers.

Pressure rises across Greek sports retail

The main organized rival is Fourlis, which operates Intersport in sports retail and Foot Locker in sneakers and lifestyle. Its sports activities recorded 12% sales growth during the first eight months of 2026, with comparable sales up 8%. Excluding Romania, where consumption remained under pressure, growth was approximately 24%. Fourlis has identified market-share gains as a priority and is pursuing a more aggressive commercial and pricing policy.

Zakcret forms a third major pole. The company generated 2025 revenue of €52.75 million, EBITDA of approximately €2.29 million and net profit of €244,700, up 191.8%. It continues to add locations and also competes in sneakers and lifestyle through Sneaker Cage. Smaller operators face greater strain: Sneakers Market closed seven of its 13 locations during 2025, while its gross margin fell to 11.6% from 38.8% and net losses reached €3.81 million.

Demand is still expanding at the largest chains. Convert Group measured combined sales of €344.6 million including VAT for Cosmos Sport/JD Sports, Fourlis’ Sportswear Market and Zakcret in January-August 2026, up 16.3% from €296.4 million a year earlier. Unit sales rose 33.8% to 11.1 million and orders increased 10.5% to 5.7 million. The acquisition would therefore give JD Sports greater scale in a growing market, but its competitive impact will depend on how quickly Cosmos can improve Sport Vision’s economics without weakening coverage or brand differentiation.