Frasers Group targets Europe growth for Sport Direct, plans flexible payments offer

Sandra Halliday

Опубликовано
27 апр. 2023 г.

Despite a long and frenetic period of activity, Frasers Group’s ambitions remain undimmed and the company’s CEO said at a major conference that Europe is its next target.

Speaking at the World Retail Congress in Barcelona, Michael Murray said that following the successful elevation strategy of its UK store portfolio, the group will now look to grow its presence in Europe. And it sees a clear opportunity in the market for exporting its Sports Direct chain in particular to the continent.

He said Sports Direct is the most scalable of the group’s retail models and that the chain’s proposition “doesn’t really exist in Europe”.

That said, he doesn’t see it as a quick win, adding that “it’s difficult to expand in these countries and [the Group] is making sure we’re going into spaces that align with where the brand partners see an opportunity for that elevated proposition in a market.” 

And he stressed that the chain is now a world away from the pure profit-focused approach of the past for its largest division.“We've invested into schools, getting kids playing sport and trying to get more people back into sport. We have to try and invest in all areas of the business to make sure that we're doing good for the community as well,” he said.

Murray also said the company is going to unveil a new flexible payments solution and loyalty scheme.  

Called Frasers Plus, it will generate a huge amount of data for the firm.

It’s been made possible since its purchase of Studio Retail that has its own regulated flexible payment option. In partnership with Tymitt, it will integrate rewards and a regulated credit solution for customers that shop across the group’s chains as well as creating tailored comms and marketing. 

Longer term, the tech behind Frasers Plus will be offered to other retailers on a white-label basis.