Frasers Group has confirmed its acquisition of Sneakerboy, its latest Australian buy up after snaring MySale earlier this year.
Sneakerboy was placed administration in July and appointed Hamilton Murphy Advisory as the administrator.
Frasers Group, which operates retailers such as House of Fraser and Sports Direct, has confirmed that it has acquired the premium sneaker retailer.
CEO Michael Murray welcomed the brand to its portfolio.
"We are pleased to have acquired the luxury streetwear retailer, Sneakerboy.
"This acquisition further strengthens and diversifies the group’s luxury proposition, while securing the future of Sneakerboy and allowing the streetwear retailer to benefit from Frasers Group's expertise in this sector."
Sneakerboy was founded by Chris Kyvetos in 2013, who served as creative director until he left the business in 2017.
The acquisition comes as lifestyle group Luxury Retail No.1 battles new claims around its receivership.
While the move to appoint receivers to Luxury Retail No.1 is separate from efforts to save Sneakerboy, it is under the same ownership of the failed group.
According to new documents, Luxury Retail No.1 in debt to creditors by more than $19.7 million.
Entities related to directors Nelson Mair and Theo Poulakis ran Luxury Retail No.1, with the pair also previously owning and directing Sneakerboy and Luxury Retail Group through corporate vehicles.