XXL and Frasers Group are on the brink of forging a strategic partnership aimed at bolstering XXL’s dominance in the Nordic region. Frasers Group, which holds significant stakes in retail leaders like Sports Direct and over 30 percent of XXL’s Class A shares, sees XXL as uniquely positioned to strengthen its market leadership through its extensive retail network and omnichannel capabilities.
The partnership will leverage mutual benefits to enhance XXL’s operations and core business, with both companies sharing strategies, particularly Frasers Group’s insights from its Store Elevation strategy aimed at enhancing brand-supplying relationships. XXL will also benefit from access to Frasers Group’s controlled brands and support in accelerating its “Reset & Rethink” strategy, which has been a focus over the past year.
XXL CEO Freddy Sobin remarked: “A more strategic partnership exploring and utilizing possible synergies would be mutually beneficial in many areas such as purchasing, brand collaborations, store elevation, knowledge sharing, and more. Frasers Group has always been a passionate advocate for strategic brand collaborations, and as part of our new journey, so are we. XXL has always been about great brands, great products, and great prices.”
Michael Murray, CEO of Frasers Group, stated: “Partnering with XXL would be a significant step forward in our ambition to becoming a global sports retailer. The expertise we have gained through our Elevation Strategy, particularly in brand relationships, retail elevation, and the utilization of our brands, will be invaluable to XXL as it regains its position as a champion within sporting goods in the Nordics. In turn, Frasers would benefit from their existing footprint that will drive new avenues of growth in the sporting goods market.”
