Frasers Group snaps up shares in Australia’s Accent Group Limited

Frasers Group has made a strategic investment into retail, wholesale and distribution company Accent Group Limited as part of efforts to grow its presence in Australia and New Zealand. In a regulatory filing, the UK fashion giant announced that it had purchased shares of 14.65 percent in the firm, which specialises in brands positioned within the performance and lifestyle segment.

The move builds on Frasers’ wider ambition to “become a leading global sports retailer”, a mission that has already been reflected by activity in the Netherlands, where it acquired local sports retailer, Twin Sport, last month. In regards to Accent, the Australia-based firm is planning to offer Frasers the opportunity to propose a director to join its board in a bid to help further drive mutual opportunities.

Commenting on the deal, Frasers CEO, Michael Murray, said the investment was an “exciting step in the expansion of [the company’s] international footprint”, which he noted was a “key growth driver for the group”. Murray 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. We are looking forward to working with the Accent management team to unlock mutually beneficial opportunities for both groups."

In the full year 2024, Accent reported sales of 1.6 billion Australian dollars, from its network of nearly 900 global sports retailers and websites, as well as globally distributed brands such as Hoka and Ugg. Its own CEO, Daniel Agostinelli, said the latest partnership with Frasers was the product of discussions that had been held for some time. He continued: “We see the potential for significant mutual opportunity with Frasers Group, and are excited by the beginning of this new relationship between the organisations."