Accent Group (ASX: AX1) has entered a 25-year agreement with Frasers Group to introduce Sports Direct retail and online stores to Australia and New Zealand. Accent plans to establish at least 50 stores within six years, targeting over 100 by 2050, leveraging Sports Direct’s established operating model. This deal provides Accent access to Frasers’ brand portfolio, including Everlast and Lonsdale, alongside existing distribution agreements with brands like Skechers and Vans. Accent will also acquire Frasers’ MySale to consolidate operations and strengthen its online presence.
Accent CEO Daniel Agostinelli sees this as a major growth opportunity. Frasers will increase its stake in Accent to 19.57% through a $60.4 million investment, funding the Sports Direct launch. The agreement includes a standstill arrangement, limiting Frasers’ holding to 26% for three years. Frasers, a global retailer with over 1,500 stores and approximately $11.44 billion in revenue in 2024, sees potential in Accent’s management and new business development.
