The Frasers Group has completed a strategic retail agreement for over 25 years with the Accent Group to expand with its sporting goods chain Sports Direct in Australia and New Zealand. According to its own statements, the company plans to open 100 branches in the region. In addition, further opportunities in other retail and business segments may be checked in the future.
As part of the partnership, Frasers intends to increase its participation in the Accent Group to 19.57 percent and thus consolidate its status as the largest shareholder of the retail company. According to Frasers, the proceeds of around £ 29 million (34 million euros) are to be used for the introduction of Sports Direct business in Australia and New Zealand.
In addition, the Accent Group has taken over the online marketplace Mysale from Frasers, which specializes in price-reduced clothing, and ultimately consolidated all the Australian activities of Frasers under its roof. The Frasers Group had taken over Mysale at the end of 2022 after it was able to secure the majority of the shares in a lengthy takeover battle, which led to the end of the listing of the e-tailor.
Accent takes over the MYSALE platform from Frasers
In a message, Frasers said that they had undertaken to work with Accent in order to further expand the existing presence in the Australian-New Zealand sports retail. The group had first acquired shares in Accent in August 2024, with the British retail giant describing the Australia and New Zealand region as the “key market for the aim of the group to become a leading global sporting goods dealer”.
Accent is already strongly represented in Australasia: As an important retailer and sales partner of lifestyle and sports shoes, the company is operating more than 900 branches. The group is now planning to open at least 50 Sports direct branches in Australia and an online platform within six years. In the long term, the two companies see the opportunity to open up to 100 locations over the course of the partnership.
Daniel Agostinelli, the Chief Executive Officer (CEO) of the Accent Group, said: “After detailed discussions, we are very happy 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 retailers worldwide. To bring exciting global sports business into the Australian and New Zealand markets. ”
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