Frasers Group has secured a 25-year strategic retail agreement with Accent Group that will see its sportswear retailer, Sports Direct, launch across Australia and New Zealand. The company said it is planning to open 100 stores in the region, with further opportunities among other retail and business segments to be potentially explored in the future.

As part of the partnership, Frasers said it intends to raise its shareholding in Accent Group to 19.57 percent, reaffirming its status as the wholesale distributor’s largest shareholder. The subscription will amount to around 29 million pounds of proceeds, which Frasers noted would be used to fund the initial roll out of the Sports Direct business in ANZ.

Furthermore, Accent Group has acquired Frasers’ discount online fashion marketplace, MySale, ultimately consolidating all of Frasers’ Australian operations under its own umbrella. Frasers acquired MySale in late 2022 after snapping up a majority of its shares in a long-winded takeover battle, leading to the delisting of the e-tailer on AIM.

Accent acquires MySale platform as Frasers looks to increase stake

In a regulatory filing, Frasers commented that it was committed to working with Accent to continue expanding its existing presence across ANZ’s sports retail market. The group had first snapped up shares in Accent back in August 2024, at which time the British retail giant dubbed the ANZ region as a “key market in the group’s ambition to become a leading global sports retailer”.

Accent already operates a notable presence in Australasia, where it serves as the key retailer and distributor of lifestyle and sports footwear across 900 stores. With Sports Direct, it is planning for an initial roll out of at least 50 Sports Direct stores in Australia and an online platform throughout the first six years, with an opportunity to open up to 100 locations over the course of the partnership.

Daniel Agostinelli, CEO of Accent Group, said: "After extensive discussions, we are very pleased to announce a long-term strategic relationship with Frasers to open Sports Direct in Australia and New Zealand. Sports Direct is one of the leading sporting goods retailing businesses globally. Frasers and Accent see a significant opportunity to bring a new and exciting global sports business to the Australian and New Zealand markets.”