Frasers signs 10 year deal to bring Sports Direct to the Gulf and Egypt
Frasers Group has signed deal with fellow retail conglomerate GMG to bring British sportswear retailer Sports Direct to the MENA region as it continues ambitious expansion plans.
The 10-year strategic retail partnership, which plans to "disrupt the retail sports landscape" is part of GMG’s strategic vision to be the number one sports player across all markets it operates in.
GMG is a global retailer, distributor and manufacturer of sport, lifestyle, health and beauty brands. The company has a strong presence in the Gulf, North Africa and Southeast Asia, where it’s a distributor and operator of Nike stores as well as its home-grown multi-brand sports retailer, Sun & Sand Sports.
The new partnership will see Frasers Group expand in the Gulf and Egypt, targeting 50 new Sports Direct store openings in the region over the next five years. The first year of the partnership will see the first five stores come to life.
Michael Murray, CEO of Frasers Group, said: "GMG is an unrivalled retailer in the region, operating and distributing an incredible portfolio of global brands in markets where we see real growth potential, particularly in sports and lifestyle. By leveraging GMG’s scale, deep retail expertise and market knowledge, our partnership will support the growth of our Sports Direct brand in the Gulf and in Egypt."
Michael Murray and Mohammad A. Baker
Mohammad A. Baker, Deputy Chairman and CEO of GMG, added: "Our collaboration with Frasers Group represents not just a key milestone but a strategic expansion that underscores our commitment to redefine the sports arena across all markets in which we operate in. By introducing Sports Direct, a flagship brand in the industry, we are further positioning ourselves as a dominant force within the retail sports industry.
"At GMG, with over four decades of experience, we are committed to use our expertise in providing the best choices for quality products. We are uniquely positioned to integrate and scale Sports Direct’s presence successfully, bringing it closer to our consumers and crafting unparalleled sports retail experiences."
