Accent Group (ASX: AX1) just kicked off a bold new chapter, announcing a strategic partnership with UK-based retail giant Frasers Group to bring the Sports Direct brand to Australia and New Zealand. The deal includes a significant capital injection from Frasers and a fresh three-year commitment from Accent’s long-standing CEO, Daniel Agostinelli.
Under the agreement, Accent will roll out at least 50 Sports Direct stores across ANZ over the next six years, with ambitions to hit 100-plus locations in time. The launch will also include a full online presence, bringing one of the world’s biggest sporting goods retailers directly to Aussie and Kiwi consumers.
This isn’t just about new stores—it’s a full strategic realignment. Accent now has access to Frasers’ owned brand portfolio (think Lonsdale, Everlast, Slazenger, USA Pro, and more), alongside Frasers’ deep global relationships with major sportswear brands like Nike, Adidas, Asics and New Balance. Accent plans to integrate this expanded offering across both Sports Direct and its existing retail footprint, which already includes The Athlete’s Foot, Skechers, Vans, and Timberland.
To support the move, Frasers is increasing its stake in Accent to 19.57%, subscribing to 35.2 million new shares at $1.718 each—a small 3.5% discount to the market price. The $60.4 million raised will directly fund the first wave of Sports Direct store rollouts.
Frasers isn’t just bringing capital. It’s also handing over local operations of online fashion marketplace MySale, streamlining its Australian presence under the Accent umbrella.
Meanwhile, CEO Daniel Agostinelli has re-signed for another three years, ensuring stability as the group embarks on this next growth phase. With his leadership and Frasers’ backing, Accent is positioning itself to become a serious force in the sports retail scene.
Accent’s Chairman David Gordon summed it up well: “This is the material new growth opportunity we’ve been looking for.”
