As it accelerates its global expansion, Frasers Group intends to open 100 Sports Direct outlets in Australia and New Zealand.
In order to create at least 50 Sports Direct stores and start an online business in the near future, the retail behemoth has inked a long-term deal with Accent Group, a distributor of high-end lifestyle and sports footwear with over 900 stores and 12 distributed brands.
According to Frasers, the new collaboration would help the company achieve its expansion goals of opening 100 stores throughout Australia and New Zealand.
Along with strengthening its own ties with companies like Adidas, Nike, and New Balance, the purchase will give Accent Group access to its portfolio of brands, which includes Everlast, Slazenger, Karrimor, and USA Pro, it added.
Frasers has pledged to increase its ownership of Accent Group to 19.57 per cent as part of the collaboration, and it stated that about US $ 38.47 million in subscription fees will be used to finance the Sports Direct company’s initial regional roll-out.
Additionally, Frasers’ discount online fashion marketplace, MySale, has been acquired by Accent Group, consolidating the retail behemoth’s Australian activities into its new partner.
