Frasers Group (“Frasers” or “the Group”) has announced a strategic long-term retail partnership with Accent Group to launch and operate Sports Direct in Australia and New Zealand. This move represents a significant step in Frasers’ ambitious plans for international growth, furthering the Frasers Group Sports Expansion.
Accent Group is a leading retailer and distributor of premium lifestyle and sports footwear in Australasia, boasting over 900 stores, 12 distributed brands, and a proven track record of retail operations within the Australian market.
The new partnership aims to bolster Frasers Group’s expansion in Australia and New Zealand, with a goal of opening 100 stores in the region. This initiative aligns with the Group’s aggressive retail growth strategy to become the premier global sports retailer, a key aspect of the Frasers Group Sports Expansion.
As the largest shareholder in Accent Group, Frasers will collaborate closely with the company to enhance its presence within the regional sports retail sector while also exploring additional retail and business opportunities in the future.
The partnership will grant Accent Group access to a range of global brands owned by Frasers, such as Everlast, Slazenger, Karrimor, and USA Pro. Moreover, it will tap into Frasers’ robust relationships with leading global sports brands like Nike, adidas, Under Armour, Asics, and New Balance, creating significant growth potential for the company.
In conjunction with this partnership, Frasers plans to increase its shareholding in Accent Group to 19.57%, reflecting its confidence in Accent’s leadership and growth prospects. The subscription proceeds of approximately £29 million (AU$60.4 million) will support the initial rollout of the Sports Direct business in Australia and New Zealand.
Additionally, Accent Group has acquired Frasers’ discount online fashion marketplace, MySale, which will streamline Frasers’ Australian operations while enhancing Accent’s online presence.
