Frasers Group has purchased a 14.65% strategic investment in performance and lifestyle retail firm, Accent Group.

The firm, which operates in the Australia and New Zealand markets, delivered AUD$1.6bn (£820m) in sales in the 2024 financial year across its 900 stores and websites, which consist of multi-brand sports fashion stores, vertical owned brands and global exclusively distributed brands such as Skechers, UGG and Vans.

The investment is expected to allow Frasers to grow its presence in Australia and New Zealand, which the firm described as a "key market" in its ambition to become a "leading global sports retailer".

Chief executive officer at Frasers Group, Michael Murray, said: "This investment is 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.

“It has a strong platform across stores, digital, and distribution, offering a lot of potential for Frasers concepts and brands. We are looking forward to working with the Accent management team to unlock mutually beneficial opportunities for both groups.”

The move comes as profit at Frasers Group increased by 13.1% year-on-year in the year to 28 April, and the firm signed a further partnership with THG and increased its stake in Hugo Boss to 13.9%.

As part of the partnership and to help drive mutual opportunities, Accent has stated that it intends to offer Frasers the opportunity to propose a director to join its board.

Investment director at AJ Bell, Russ Mould, added: "Frasers has a ferocious appetite to rule the retail world. Despite already having fingers in many pies, it’s once again stretched its wings and swooped on yet another opportunity.

"Planting flags in yet more territories is part of Frasers’ strategy to be a much bigger international player. It is now active in more than 20 countries and its goal is to provide consumers with access to the world’s most loved sports, premium and luxury brands.

"The investment in Accent makes perfect sense as it will enable Frasers to gain valuable insight into the Australian and New Zealand markets. As always, don’t expect this investment to lead to a full takeover of the company. That isn’t Frasers’ style. It only pounces on businesses when they are on their knees and going for pennies."

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