Frasers Group inks JV deal for Sports Direct expansion to Indonesia
Frasers Group Asia Sdn Bhd (or FGA, which is a subsidiary of the UK company) has revealed a new joint venture agreement with PT. MAP Active Indonesia.
The deal will see “the introduction of Sports Direct’s elevated stores across Indonesia and incorporates both wholesale and retail components”. The company said the collaboration “is the first step in a region-wide expansion between two industry leading corporations in retail”.
The stores will cover “all key categories, including football, running, training, outdoor, rackets, swim and leisure”. Ans they’ll appear in “major retail malls throughout Indonesia”, while also including Frasers’ USC premium fashion banner.
It will be the first time many brands owned by Frasers Group will be available to Indonesian consumers, including Karrimor, Everlast, Lonsdale, Slazenger, USA Pro, Firetrap, Soul Cal and Jack Wills.
FGA is an established retailer in the region with its strength in Malaysia, where it already own 35 superstores. But the new JV “marks the first step of regional expansion for Frasers Group Asia”.
“As part of our continued international expansion strategy and the success of our existing business in Malaysia, we are excited to grow our Southeast Asian footprint with a presence in Indonesia,” said Michael Murray, Frasers Group CEO.
“Today’s announcement supports our vision to build the planet’s most admired and compelling brand ecosystem”.
FGA MD Paul Gibbons added: “The Indonesian market offers an exciting opportunity to highlight our brands, to the fourth largest population in the world. We enter this partnership with a long-term view to build the best multi-sport destination which has been a great success in the UK.”
Copyright © 2023 FashionNetwork.com All rights reserved.