Frasers Group CEO Michael Murray said in July that 2024 was a “breakout year” for building Frasers’ future growth. And so the group’s expansion by acquisition continues, taking a near-15% share in major Australia/New Zealand performance/lifestyle retailer Accent Group. Although terms haven’t been released, local reports put the deal at A$165 million (£84.6 million).

How big is Accent? As a premium distributor retailing many of the worlds’ best brands, full-year 2024 sales from over 800 stores and over 35 online platforms hit A$1.6 billion (£1.26 billion).

The retail format includes leading multibrand sports/fashion stores, vertically owned brands, and global exclusively distributed brands such as Skechers, Hoka, UGG and Vans. That offer should grow dramatically, given Frasers’ extensive portfolio of fashion and sports brands.

Frasers said the “strategic investment” will enable it to grow its presence in Australia and New Zealand, “a key market in the group’s ambition to become a leading global sports retailer”.

The deal could also include a Frasers’ director joining the Accent board “to further underpin this partnership and help to drive mutual opportunities”.

Murray called the investment “an exciting step in the expansion of our international footprint, which is a key growth driver for the Group.

“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.”

Daniel Agostinelli, CEO of Accent Group, added: “We have been in discussions with Frasers Group for some time about a strategic relationship, and have been impressed by its management team and believe that there is a strong cultural alignment between both organisations.

“We see the potential for significant mutual opportunity with Frasers Group, and are excited by the beginning of this new relationship between the organisations.”