Accent Group’s latest acquisition has become final, with the $13 million buy up of retail business Glue Store and wholesale and distribution business Next Athleisure complete.
And, after discussions with a number of brands distributed by Next Athleisure, as part of the acquisition Accent Group expects to receive distribution rights to the Superga, le coq sportif, Kappa, K-Way and Sebago brands.
As revealed in April, Next Athleisure will become the basis of a new division within Accent Group called ‘Accent Lifestyle’ under the leadership of NA’s chief executive Darren Todd, aiming at serving the “fragmented” youth apparel market across Australia and New Zealand.
The acquisitions will undoubtedly strengthen Accent Group’s coverage over the apparel market, with the Trybe focusing on youth footwear and Glue Store on youth apparel, brands such as Hype, Platypus and Subtype focusing on streetwear, Athletes Foot on sportswear, and Accent Lifestyle – as well as Stylerunner – targeting athleisure.
“The strong strategic alignment between the Accent and Next Athleisure businesses provides us with a significant opportunity to accelerate our growing apparel business,” said Accent Group chief executive Daniel Agostinelli.
“Our strategy and plans are already well progressed to increase Glue Store’s store network over time, accelerate its digital and virtual offerings, grow its owned vertical brands and significantly increase the range of footwear in its stores.”