Frasers has signed a 25-year agreement with Accent Group.
Frasers Group has announced a long-term strategic retail agreement with Accent Group to launch and operate Sports Direct stores in Australia and New Zealand.
Frasers Group’s objective is to become the leading global sports retailer in the region. To achieve that, Frasers and Accent plan to open 100 Sports Direct stores in Australia and New Zealand over the next 25 years.
Accent has a significant presence in Australasia, where it is a key retailer and distributor of premium lifestyle and sports footwear, with over 900 stores, 12 distributed brands and established retail operations.
As Accent’s largest shareholder, Frasers will work closely with Accent to continue expanding its existing presence across the region’s sports retail market, with potential to explore opportunities in further retail and business segments in the future. Frasers Group has also increased its shareholding in Accent Group by 5 percent to 19.57 percent to demonstrate its confidence in its growth potential, Frasers said.
The subscription proceeds of approximately £29 million (€34m) will be used to fund the initial roll-out of the Sports Direct business in ANZ.
The partnership will offer Accent Group access to many global brands owned by Frasers, including Everlast, Slazenger, Karrimor and USA Pro. It will also allow Accent to leverage Frasers’ strong brand relationships with leading global sports brands, like Nike, Adidas, Under Armour, Asics and New Balance.
Additionally, Accent has acquired Frasers’ discount online fashion marketplace, MySale, consolidating Frasers’ Australian operations into its own and extending its online presence.
“This partnership 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,” said Michael Murray, CEO of Frasers Group.
Daniel Agostinelli, CEO of Accent Group, said: “Accent plans to build a large Sports Direct business in Australia with an initial rollout of at least 50 Sports Direct stores plus online targeted over the first six years. The rollout has key brand support and will leverage the proven operating model, combined capability and global brand relationships enabled by the Frasers and Accent alliance.”
