Following Founder Mike Ashley’s investment into the recently listed MySale (read: OzSale) business, the retail tycoon plans to bring his Sports Direct brand Down Under.
Another international retail brand is due to open bricks-and-mortar locations Down Under, with the planned opening of three Sports Direct stores in Australia and one in New Zealand.
Listed on London’s stock exchange, the sports retailer is currently run by its Founder, Mike Ashley, who is also overseeing the expansion plans. Ashley is perhaps best known for his prominence in the British retail market, and for having recently bought a stake in MySale (the pureplay brand previously known as OzSale), for 4.8 percent.
Ashley’s interest in MySale was worth £15 million at the time and gives him a certain amount of leverage in the international markets that OzSale initially captured. It is expected, therefore, that Sports Direct will use this relationship to set up its local websites, as well as to create opportunities to move stock between OzSale and Sports Direct, or vice versa.
It isn’t the first time Sports Direct has approached new territory, however, with the brand currently operating in other European nations, including France, Belgium and Austria. Further plans for European expansion are expected following the confirmation of its plans in ANZ.
Ashley is also expected to announce a leap in profits at Sports Direct this week, ahead of a string of planned acquisitions. While the details of these announcements may not be fully revealed in the coming days, this is certainly one UK-based retailer that Australian counterparts should certainly be taking note of.