Accent Group (ASX:AX1) Teams Up with Frasers Group for Major Sports Direct Expansion Across ANZ

2 min read | April 15, 2025 12:43 PM AEST | By Team Kalkine Media

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Accent Group (ASX:AX1) Teams Up with Frasers Group for Major Sports Direct Expansion Across ANZ — Image source: shutterstock

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Highlights

Accent to roll out at least 50 Sports Direct stores across ANZ

Frasers Group increases stake in Accent to 19.57%

CEO Daniel Agostinelli commits to new 3-year term

Accent Group (ASX:AX1) has entered into a landmark strategic partnership with Frasers Group to launch the global sporting retail giant Sports Direct across Australia and New Zealand. This collaboration marks a major step forward in Accent’s regional growth strategy, with plans to open a minimum of 50 Sports Direct stores over the next six years.

As part of the deal, Frasers Group will boost its shareholding in Accent to 19.57% through the subscription of 35.2 million new shares. These shares are being issued at a 3.5% discount to Accent’s closing price on 11 April 2025, raising approximately $60.4 million in funding. The capital raised will go toward establishing the first phase of Sports Direct stores throughout the region. The transaction is scheduled to be completed by 12 May 2025.

Sports Direct, widely recognized as one of the world’s largest sporting goods retailers, brings a significant portfolio of athletic and lifestyle brands to the ANZ market. Through this alliance, Accent will gain access to Frasers Group’s expansive brand ecosystem, including popular names like Everlast, Lonsdale, and Slazenger. This move sets the stage for further growth, with a long-term goal of establishing over 100 Sports Direct locations across Australia and New Zealand.

Alongside the partnership announcement, Accent confirmed that CEO Daniel Agostinelli has signed a new employment agreement, committing to lead the business for at least another three years. His continued leadership is expected to play a pivotal role in driving the success of this new venture and supporting the company's broader growth agenda.

Company executives see this alliance as a transformative moment. According to Accent’s CEO Daniel Agostinelli, the collaboration opens doors to introducing a dynamic and globally respected retail concept to ANZ customers. Chairman David Gordon emphasized that the strategic relationship represents a meaningful growth opportunity and will help position Accent as a more prominent player in the sporting retail sector.

By combining Frasers Group’s international brand strength with Accent’s strong market presence and retail expertise, the partnership is well-positioned to reshape the sporting goods landscape in Australia and New Zealand.

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