Frasers Group has strategically acquired a 14.65% stake in Accent, marking its entry into the Australian and New Zealand retail markets.
- This investment aligns with Frasers Group’s ambition to become a leading global sports retailer, enhancing its international footprint.
- Accent, a renowned retail and distribution business, achieved sales of AUD$1.6 billion in their last financial year.
- Frasers Group plans to appoint a director to Accent’s board as part of its strategic involvement.
- The collaboration between Frasers and Accent aims to unlock mutually beneficial opportunities for both companies.
Frasers Group, the owner of well-known retail brands such as House of Fraser, Sports Direct, and Flannels, has taken a significant step by acquiring a 14.65% share in Accent. This purchase is part of Frasers Group’s strategic effort to bolster its presence in the Australian and New Zealand markets, which the group views as critical to its goal of becoming a preeminent global sports retailer.
While the financial details of the stake acquisition remain undisclosed, the move is seen as pivotal for Frasers Group. It is expected to broaden the company’s international reach. Accent, which operates nearly 900 stores and websites across the region, reported impressive sales figures of AUD$1.6 billion (£0.82 billion) in the previous financial year.
The company, with offices in key cities such as Melbourne, Sydney, Brisbane, and Auckland, is a major player in the multi-brand fashion retail sector. Accent’s portfolio includes prominent brands such as Skechers, Hoka, Ugg, and Vans, which underscores its strong market position in sports and lifestyle retail.
Daniel Agostinelli, the Chief Executive of Accent, indicated that discussions with Frasers Group had been ongoing, highlighting a thoughtful and deliberate approach to this partnership. As part of this agreement, Frasers Group will have representation on Accent’s board, which signifies a deep level of engagement and strategic interest.
Michael Murray, Chief Executive of Frasers Group, expressed enthusiasm about this development, citing it as an important milestone in the company’s global expansion strategy. He praised Accent’s robust platform, which spans stores, digital channels, and distribution networks. This collaboration is poised to generate synergies that will benefit both entities, fostering growth and innovation in the regional retail landscape.
With this strategic investment, Frasers Group positions itself strongly for growth in the Australasian retail market.
