Frasers acquires stake in Australian group Accent as retail investment spree continues

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

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

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

Frasers said the stake in Accent, which was bought for an undisclosed fee, could also give Frasers the opportunity to appoint a director to the company’s board to “help drive mutual opportunities.”

Daniel Agostinelli, CEO of Accent, added: “We see the potential for significant mutual opportunity with Frasers Group and are excited to begin this new relationship between the organizations.”

It is the latest step by the Sports Direct owner in its drive for inorganic growth, after acquiring fast fashion site Missguided and amassing stakes in Currys, Boohoo, Hornby and Asos. The group has also bought luxury goods websites from THG.

It has helped drive profitability, with Frasers posting double-digit revenue growth last year.

Frasers said its latest investment will allow it to increase 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, CEO and son-in-law of founder Mike Ashley, added: ‘Accent has built an incredible ecosystem of sporting and lifestyle brands in Australia and New Zealand.

‘They have a strong platform across retail, digital media and distribution, which offers a lot of potential for Frasers’ concepts and brands.’