NEWS


Frasers Group launches multi-million-pound bid for Australian fashion retailer F


rasers Group has made an offer worth approximately £166 million to acquire the remaining shares in Australian


footwear and apparel retailer, Accent Group. Frasers currently holds a 22.9 per cent stake


in Accent and has offered 65 Australian cents per share for the remainder of the company. The retailer said it sees significant long-term potential in Accent’s portfolio of brands and its position within the Australian market. However, at the time of going to print, reports


suggest that the Accent Group Board is urging shareholders to reject Frasers' takeover bid. This move comes just days after Frasers announced a separate takeover proposal for German fashion brand Hugo Boss. The company,


which already owns just over 25 per cent of Hugo Boss after gradually increasing its stake since 2020, has offered Ð1.98 billion (£1.73 billion) to acquire the remaining shares. In response, Hugo Boss described the approach


as “unsolicited” and stated that the proposal had not been coordinated with the company. It said it would carefully review the proposal before issuing a formal statement to shareholders. Meanwhile, Melbourne-based Accent operates


more than 800 stores across Australia and New Zealand and distributes a range of international brands, including Skechers and Lacoste. The company has also worked with Frasers to expand the Sports Direct business in the region. The offer has prompted Accent’s board to


review the proposal and consider its implications for shareholders. The company has advised investors to await further guidance while the assessment is underway. Analysts note that the bid does not include a


premium over Accent’s closing share price before the announcement, leading some observers to describe the approach as "opportunistic" given the retailer’s recent share-price weakness. Accent's stock has fallen significantly over the past year, although it rose sharply following news of the offer. The proposed acquisition forms part of Frasers’


broader expansion strategy under the influence of Founder Mike Ashley and Chief Executive Michael Murray, as the company continues to pursue growth through investments and acquisitions in international retail markets.


Shoe Zone to shut more stores as high street pressures mount B


udget footwear retailer Shoe Zone is set to close more stores across the


UK after warning that rising costs and weak consumer confidence have pushed the business into losses. The Leicester-based chain, which operates


more than 250 stores nationwide, said it had already closed 14 shops during the first half of the year and, according to reports, indicated that further closures could follow as trading conditions continue to deteriorate.


The company revealed it had


fallen to a pre-tax loss of £5.3 million for the six months ending 28 March, more than double the loss reported during the same period last year. Revenues also dropped by 12 per cent to


£62.9 million, while online sales declined despite continued investment in digital retailing. Shoe Zone has been reshaping its store


portfolio in recent years by shutting smaller branches and focusing on larger-format sites. The retailer said shoppers were spending less as


household budgets remained under pressure. Retail analysts say the closures reflect wider challenges facing Britain’s high streets, where rising operating costs and the continued shift towards online shopping are forcing many chains to reduce their physical presence. Several major retailers have announced closures or restructuring plans in recent months, including LK Bennett and Russell & Bromley. Despite the difficult outlook, Shoe Zone said


it would continue investing in larger stores and digital sales channels, including expanding onto social media platforms such as TikTok Shop.


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