Frasers Group has expanded its international reach by acquiring a significant stake in Accent, a leading retail and distribution firm in Australia and New Zealand.
- The exact amount paid for the 14.65% stake in Accent remains undisclosed, reflecting Frasers Group’s strategic investment in a crucial market.
- Accent’s substantial sales figures and brand portfolio underscore the collaboration’s potential for growth and innovation.
- This strategic alliance is poised to enhance Frasers’ global presence, with both companies expressing optimism about future opportunities.
- Frasers’ integration into Accent’s board highlights the significance of this partnership in their global retail strategy.
Frasers Group has strategically expanded its international influence by acquiring a 14.65% stake in Accent, a prominent retail and distribution business operating in Australia and New Zealand. The acquisition reinforces Frasers Group’s commitment to becoming a leading global sports retailer, though the financial details of the transaction have not been disclosed.
Accent reported impressive sales of AUD$1.6 billion in the last financial year, derived from nearly 900 physical stores and digital platforms across key locations including Melbourne, Sydney, Brisbane, and Auckland. The company, known for distributing renowned brands such as Skechers, Hoka, Ugg, and Vans, presents a robust platform for Frasers’ growth in the region.
Daniel Agostinelli, Chief Executive of Accent, noted the longstanding discussions between the two groups, which culminated in this strategic investment. He emphasised the mutual benefits anticipated from this partnership.
Frasers Group’s CEO, Michael Murray, described the venture as an exciting step towards expanding the company’s international footprint, which is central to their growth strategy. ‘Accent has built an incredible ecosystem of sports and lifestyle brands in Australia and New Zealand,’ Murray stated, highlighting the potential that this collaboration holds for introducing more Frasers concepts and brands into the market.
Further cementing the alliance, Frasers is anticipated to appoint a director to the Accent board, signifying the integration and importance of this collaboration within their broader international strategy.
This investment marks a pivotal expansion for Frasers Group, positioning them advantageously in the Australian and New Zealand markets.
