Frasers acquires stake in Australia’s Accent Group as retail investment spree continues

Frasers has bought a 14.7 per cent stake in Australian retail and distribution firm Accent Group, marking the latest in a spate of third-party investments.

Accent serves the performance and lifestyle market in Australia and New Zealand, delivering AUD$1.6billion (£820million) of sales annually from nearly 900 stores and websites.

It boasts multi-brand sports fashion stores, vertical-owned brands, and exclusively distributed brands such as Skechers, Hoka, Ugg and Vans.

Frasers said the Accent stake, which was purchased for an undisclosed fee, could also hand Frasers the chance to appoint a director to the firm’s board in order to ‘help to drive mutual opportunities’.

Daniel Agostinelli, chief executive of Accent, added: ‘We see the potential for significant mutual opportunity with Frasers Group, and are excited by the beginning of this new relationship between the organisations.’

It marks the Sports Direct owner’s latest step in an inorganic growth drive, with the firm having snapped-up fast fashion site Missguided and built stakes in Currys, Boohoo, Hornby and Asos. The group has also bought luxury goods websites from THG.

It has helped to boost profitability, with Frasers having delivered double-digit revenue growth last year.  

Frasers said its most recent investment will enable it to grow its presence in Australia and New Zealand, which are ‘a key market in the group’s ambition to become a leading global sports retailer’.

Michael Murray, chief executive and son-in-law of founder Mike Ashley, added: ‘Accent has built an incredible ecosystem of sports and lifestyle brands in Australia and New Zealand.

‘They have a strong platform across stores, digital, and distribution, offering a lot of potential for Frasers concepts and brands.’

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