Frasers Group, the company that signed a license deal with Accent Group to roll out its Sports Direct retail business in Australia and New Zealand, has bumped up its shareholding in the Australian footwear conglomerate above 20 per cent.
Prior to today’s bump-up, Frasers held a 19.90 per cent share in Accent since May. Prior to May, the group had a 14.57 per cent stake, which was initially bought off retail billionaire Brett Blundy.
That initial purchase was a key step in securing the Sports Direct rollout contract for AU/NZ.
Today, the United Kingdom-based Frasers Group holds a 21.32 per cent stake in Accent, which amounts to 128,157,728 shares. The total consideration paid for the recent bump-up is approximately $7,922,238.17, with Frasers’ total shareholding in Accent valued at around $120 million based on Accent Group’s current share price of $0.94.
The creep comes as Accent kicks off Sports Direct store openings across the country. The UK retailer sells a range of sporting goods, including apparel and footwear.
Fountain Gate shopping centre in Victoria was the first store opening location. More store openings are expected in 2026.
When the deal was initially struck in April last year, Accent Group and Frasers Group confirmed there would be 50 store openings over the next six years, which could reach 100 in the long-term.
Founded in the UK in 1982, Sports Direct operates more than 700 stores globally across Europe and Asia.
According to a report by CBRE, in collaboration with IBISWorld, Australia’s fitness and athletic clothing stores market was valued at $4.2 billion in 2024.