Frasers to launch Sports Direct in Australia and New Zealand
Accent Group is a key retailer and distributor of premium lifestyle and sports footwear in Australasia, and has over 900 stores and 12 distributed brands
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Frasers Group has struck a long-term strategic retail agreement with Accent Group to launch and operate Sports Direct across Australia and New Zealand, as part of the group’s international growth plans.
Accent Group is a key retailer and distributor of premium lifestyle and sports footwear in Australasia, and has over 900 stores and 12 distributed brands.
As Accent Group’s largest shareholder, Frasers will work closely with the Australian retailer to continue expanding its existing presence across the region’s sports retail market.
The partnership aims to open 100 stores in the region, with the use of around £29m to fund the initial roll-out. According to the two groups, there is potential to explore opportunities in further retail and business segments in the future.
In addition, Accent Group will get access to Frasers’ global brands including Everlast, Slazenger, Karrimor and USA Pro.
As part of this partnership, Frasers has also committed to raising its shareholding in Accent Group to 19.57% underscoring its confidence in Accent Group’s leadership and growth potential.
Michael Murray, CEO of Frasers Group, said: “Since acquiring a strategic shareholding in Accent, we have developed a robust partnership between Frasers and Accent. Accent has an impressive, well-established platform with various sneaker concepts and a strong distribution of brands.
“We’re looking forward to expanding our partnership to launch Sports Direct in Australia and New Zealand, working towards our bold plan of opening 100 stores. This reaffirms our commitment to drive growth of the Sports Direct brand internationally and marks a significant step forward in our ambition to become the leading global sporting goods retailer.”
Daniel Agostinelli, CEO of Accent Group, added: “After extensive discussions, we are very pleased to announce a long-term strategic relationship with Frasers to open Sports Direct in Australia and New Zealand.
“Sports Direct is one of the leading sporting goods retailing businesses globally. Frasers and Accent see a significant opportunity to bring a new and exciting global sports business to the Australian and New Zealand markets.”
