To boost presence in Australia, New Zealand (Il Sole 24 Ore Radiocor) - London, 28 Aug - The UK apparel and sportswear retailer Frasers Group said it has purchased a 14.65% strategic investment in Accent Group, the leading retail and distribution business in the performance and lifestyle market in Australia and New Zealand.

No financial details were disclosed.

In the 2024 fiscal year, Accent delivered 1.6 billion Australian dollars of sales from nearly 900 stores and websites, consisting of leading multi brand sports fashion stores, vertical owned brands, and global exclusively distributed brands such as Skechers, Hoka, UGG, and Vans.

Accent intends to offer Frasers the opportunity to propose a director to join its board.

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

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(RADIOCOR) 28-08-24 11:04:15 (0238) 5 NNNN