Key Takeaways:
- Frasers Group is partnering with Accent Group to launch Sports Direct in Australia and New Zealand, aiming for 100 stores and an online presence over 25 years.
- Frasers increased its stake in Accent to 19.57% with a £29 million investment, and Accent acquired Frasers’ ‘MySale’ platform to consolidate operations.
Frasers Group, the UK-based retail conglomerate led by Mike Ashley, is set to expand its Sports Direct brand into Australia and New Zealand through a strategic partnership with Accent Group. Under a 25-year agreement, Accent will operate at least 50 Sports Direct stores over the next six years, with plans to eventually reach 100 locations, alongside launching an online platform.
To support this expansion, Frasers has increased its stake in Accent from 14.65% to 19.57%, investing approximately £29 million (AU$60.4 million). This investment will fund the initial rollout of Sports Direct in the region. Additionally, Accent has acquired Frasers’ discount online fashion marketplace, MySale, consolidating Frasers’ Australian operations under Accent’s management.
The partnership grants Accent access to Frasers’ in-house brands, including Everlast, Slazenger, Karrimor, and USA Pro, and leverages Frasers’ relationships with major global sports brands like Nike, Adidas, and New Balance. Frasers CEO Michael Murray stated that this move reaffirms the company’s commitment to international growth and its ambition to become the leading global sporting goods retailer.