Frasers sets out to 'reshape sports retail' in Australia and New Zealand
Frasers Group has amped up its ambitious expansion plans for Sports Direct, setting a goal of opening 100 new stores in Australia and New Zealand to "reshape sports retail" in the region.
In Recent months, Frasers Group has taken Sports Direct global, signing a deal with fellow retail conglomerate GMG to bring it to the MENA region, including the Gulf and Egypt. This was followed by a deal with sports and fashion distributor MAP Active to bring the retailer to 'new markets' in Southeast Asia and India.
Fraser's CEO, Michael Murray, took to LinkedIn to announce: "Today marks the next evolution of our partnership with Accent Group Limited, a business we’ve long believed in."
This deal sees Frasers sign a new 25-year partnership as well as increase its shareholding by 5% to 19.57%. The result? A goal of opening 100 new Sports Direct stores.
Accent already has a powerful platform in place. It has over 900 stores, deep market knowledge, nd strong retail execution across ANZ. Now, together with Frasers Group, the pair are rolling out Sports Direct under a "strategic retail partnership".
This move is a key milestone in our ambition to make Sports Direct a truly global brand. It also gives Accent access to Frasers Group's owned brand portfolio and relationships with leading global players including Nike, Adidas, Under Armour, PUMA, New Balance and Asics.
Murray concluded: "We’re not entering the region. We’re doubling down with the right partner, a clear roadmap, and long-term commitment."
Where will be next on Sports Direct's hitlist?
