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Frasers in partnership with GMG to expand Sports Direct in Gulf, Egypt
(Sharecast News) - Mike Ashley's Frasers Group has announced a strategic retail partnership with global retailer GMG to facilitate its expansion of Sports Direct in the Gulf and Egypt. GMG is a distributor and manufacturer of international and home-grown brands across sport, lifestyle, health and beauty. It has a strong presence in the Gulf, North Africa and Southeast Asia, where it's a key distributor and operator of Nike stores as well as its home-grown multi-brand sports retailer, Sun & Sand Sports, among others.
Frasers said the new partnership will facilitate its expansion in the Gulf and Egypt, as it targets 50 new Sports Direct store openings over the next five years.
The first year of the partnership will see the introduction of five new stores in the region, Frasers said, "creating a solid foundation to further grow Sports Direct".
Chief executive Michael Murray said: "GMG is an unrivalled retailer in the region, operating and distributing an incredible portfolio of global brands in markets where we see real growth potential, particularly in sports and lifestyle.
"By leveraging GMG's scale, deep retail expertise and market knowledge, our partnership will support the growth of our Sports Direct brand in the Gulf and in Egypt."
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