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LONDON - Frasers Group PLC has announced a significant retail partnership with GMG, aiming to expand its Sports Direct (LON:FRAS) brand across the Gulf region and Egypt. The collaboration, unveiled Thursday, is a 10-year strategic agreement that will see the opening of 50 new Sports Direct stores within the next five years.
The partnership leverages GMG’s extensive regional presence and expertise in operating and distributing global brands. GMG is recognized for its influence in the Gulf, North Africa, and Southeast Asia, notably as a key distributor and operator of Nike (NYSE:NKE) stores and the Sun & Sand Sports brand.
Michael Murray, CEO of Frasers Group, emphasized the growth potential in sports and lifestyle sectors within the target markets and the benefits of GMG’s scale and market knowledge. Mohammad A. Baker, Deputy Chairman and CEO of GMG, highlighted the strategic nature of the expansion and GMG’s commitment to redefining the sports retail landscape.
The first year of the partnership is set to introduce five new Sports Direct stores, laying the groundwork for further expansion. This move is part of Frasers Group’s broader strategy to enhance its international footprint and deliver unique retail experiences to a global consumer base.
Sports Direct, a leading retailer in sports and fitness products, is expected to benefit from GMG’s four decades of retail experience and its established presence in the well-being sector. The partnership aligns with Frasers Group’s vision of building a highly admired brand ecosystem and GMG’s mission to inspire people through its portfolio of international and home-grown brands.
Frasers Group, which started as a small store in Maidenhead in 1982, has grown into a global entity known for its dynamic approach to retail and digital innovation. The Group’s rebranding in 2019 from Sports Direct International to Frasers Group plc reflected its evolved market identity and growth trajectory.
This strategic partnership announcement is based on a press release statement from Frasers Group and GMG. It marks a significant step in Frasers Group’s expansion plans and GMG’s efforts to solidify its position in the sports retail industry.
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