Accent Group has indicated its intention to offer Frasers Group the opportunity to propose a director for the Accent board. Credit: Shutterstock

The Accent Group investment marks a significant step in Frasers Group’s international expansion strategy, particularly in the Australian and New Zealand markets which it described as “a key market in the group’s ambition to become a leading global sports retailer.”

As part of this new partnership, Accent Group intends to offer Frasers Group the opportunity to propose a director for the Accent board, to further underpin this partnership and help drive mutual opportunities.

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Accent Group, described for its leadership in the sports fashion market, reported AUD$1.6bn ($1bn) in sales for Full Year 2024, operating nearly 900 stores and websites across Australia and New Zealand.

The company distributes global brands such as Skechers, Hoka, UGG, and Vans, alongside its own vertical brands and multi-brand sports fashion stores.

Michael Murray, CEO of Frasers Group commented: “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 Fraser’s concepts and brands. We are looking forward to working with the Accent management team to unlock mutually beneficial opportunities for both groups.”

Daniel Agostinelli, CEO of Accent Group, noted that discussions about a strategic relationship had been ongoing for some time. He cited cultural alignment between the organisations and the potential for mutual opportunities as key factors in welcoming this new relationship.

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In July, Frasers Group reported revenues and profits declined in FY24, but its CEO remained confident in the group’s strategy and wider partnerships despite industry onlookers noting consumer interest in its core markets has waned.

The conglomerate entered a new partnership with THG in late June, which saw it acquire the latter’s luxury brand portfolio including Coggles to mutually enhance retail operations at both groups, aligning with Frasers Group’s Elevation Strategy.