Frasers strikes deal to launch Sports Direct in Australia and NZ

As part of the agreement, Frasers Group has committed to increasing its shareholding in Accent Group to 19.57%, with an investment of approximately £29m (AU$60.4m). The funds will be used to finance the initial launch of Sports Direct stores in Australia and New Zealand.

Accent Group, which operates more than 900 stores across the region and distributes 12 brands, will leverage its presence to spearhead the expansion. The initial rollout targets at least 50 Sports Direct stores plus online operations over the first six years.

In a related move, Accent Group has acquired Frasers’ discount online fashion marketplace, MySale, further consolidating Frasers’ Australian operations under the Accent umbrella and extending Accent’s digital presence.

Frasers Group chief executive Michael Murray said: “Since acquiring a strategic shareholding in Accent, we have developed a robust partnership between Frasers and Accent. Accent has an impressive, well-established platform with various sneaker concepts and a strong distribution of brands. We’re looking forward to expanding our partnership to launch Sports Direct in Australia and New Zealand, working towards our bold plan of opening 100 stores. This reaffirms our commitment to drive growth of the Sports Direct brand internationally and marks a significant step forward in our ambition to becoming the leading global sporting goods retailer.”

Accent Group chief executive Daniel Agostinelli said: “After extensive discussions, we are very pleased 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 retailing businesses globally. Frasers and Accent see a significant opportunity to bring a new and exciting global sports business to the Australian and New Zealand markets.”