Intersport, one of the world's largest sporting goods retailers, is coming to Morocco. On October 14, 2026, H&S Group, the holding company chaired by Moncef Belkhayat, announced a partnership under which its retail division, One Retail, will develop and operate the Intersport brand across the country. Here is what we know so far.
The deal in brief
- Partners: One Retail, the retail division of H&S Group, and Intersport International Corporation
- Role of One Retail: develop and operate Intersport stores in Morocco
- First openings: first half of 2027, starting in Casablanca
- Expansion: other major cities next, with a national network targeted by 2032
- Financing: backed by a long-term investment program from H&S Group
What Intersport stores will sell
The stores will follow Intersport's multi-brand model, covering running, football, training, outdoor and lifestyle. Shelves will combine international brands such as Nike, Adidas, Puma, Under Armour, Asics and The North Face with Intersport's own labels, including McKinley and Energetics. Intersport reports a network of about 5,260 stores in 40 countries and revenue of 14.1 billion euros in 2025.
Why H&S Group is betting on sport
With this deal, H&S Group creates a new "Sport & Lifestyle" division inside One Retail.
Sport & Lifestyle thus becomes a new strategic growth driver. (Moncef Belkhayat, chairman of H&S Group)
The timing is not accidental. Morocco is co-hosting the 2030 FIFA World Cup, and interest in sport and sportswear is expected to keep growing in the years leading up to it. The Moroccan press has linked the launch directly to that momentum.
One Retail, a fast-growing franchise platform
Intersport is the latest in a series of international franchises signed by One Retail. The division already operates Monoprix and Franprix in Morocco, under an agreement with Groupe Casino that targets around 210 stores by 2035, as well as Mr. Bricolage, the cosmetics brand Flormar and the Venezia Ice chain. The strategy is consistent: partner with established international brands and rely on the group's own logistics, real estate and marketing capabilities to roll them out.
Part of a wider H&S Group strategy
One Retail is one of the six divisions of H&S Group, alongside Dislog Group (consumer goods and health products), La Voie Express Group (logistics), WB Group (media and communications), real estate, and Chari (e-commerce and fintech for small retailers). Moncef Belkhayat has also announced plans to list several group companies on the Casablanca Stock Exchange, starting with Dislog Group. For a closer look at how he built the group, read our profile of Moncef Belkhayat.
What it means for Moroccan retail
The Intersport deal shows how Moroccan groups are scaling: not only by building local brands, but by becoming the operating partner of choice for global retailers entering the market.
For consumers, it should mean wider access to international sports brands outside a few flagship malls. For the ecosystem, it confirms a pattern we see across Moroccan business: local groups that master logistics, real estate and distribution become natural partners for international brands. As we explained in Startups vs Classic Businesses, scale in traditional sectors comes from systems and execution, and H&S Group is a clear example.