Frasers Group, helmed by retail tycoon Mike Ashley, is gearing up for a significant expansion by acquiring SportScheck, a prominent sports retailer in Germany. This move underscores Frasers Group’s, which owns Sports Direct and House of Fraser, strong push into Europe’s competitive sports retail market, solidifying its global retail dominance.
SportScheck, with a legacy spanning 75 years, operates 34 stores across Germany, generating an annual revenue of approximately € 350 million and serving over 13 million customers annually.
Frasers has not disclosed the deal’s value. This acquisition aligns with Frasers Group’s strategic vision to become a top sports retailer in the EMEA (Europe, Middle East, and Africa) region.
Michael Murray, Frasers Group CEO, expressed excitement, stating, “Acquiring the leading sporting goods retailer in Germany is a big step in our journey to becoming the number one sports retailer in EMEA – and we are delighted to do this with the full support of major global brand partners, Adidas and Nike. Growing and expanding our Sports business is a key focus area in becoming an international retail business.”
“The German market represents a huge opportunity for us, and we look forward to bringing our experience, resources and relationships to strengthen the SportScheck business.”
The deal, pending regulatory approval, is expected to finalise in Q1 2024.
