Inside Retail has reported that Australia-based Accent Group, a digitally integrated retail and distribution company in the performance and lifestyle apparel and footwear market in Australia and New Zealand with more than 800 stores, 34 brands and more than 40 websites, plans to end its franchise model for The Athlete’s Foot (TAF) brand within five years and will not renew the franchise agreements once they expire.
TAF opened its doors in Australia in 1981. Today, the company is an integral part of the Accent Group and comprises over 130 locally managed stores in Australia and New Zealand.
Accent said its ongoing franchisee acquisition strategy has resulted in significant operational efficiencies and growth for the business over the past six years. To date, Accent has acquired 73 TAF stores and has announced that it will not renew the contracts of the remaining 62 franchise locations, which will expire over the next five years. The group anticipates that the integration of the stores could add AU$170 million per annum to its own turnover.
Accent plans to finance the acquisition of the stores from the resulting cash flow and existing credit facilities. Accent Group is listed on the Australian Securities Exchange. According to its latest reports, TAF performed well in H1 2024.
