Frasers Group, the parent company of Sports Direct, has unveiled plans to grow its presence in Europe with the launch of its buy-now-pay-later platform, Frasers Plus.
According to CEO Michael Murray, the retailer’s sportswear and equipment operation is the most scalable of the group’s retail models, which “doesn’t really exist in Europe”.
Speaking at the World Retail Congress in Barcelona, he said: “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.”
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“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,” Murray said.
The news follows the company also announced a new membership scheme and flexible payments solution, Frasers Plus, being dubbed as Amazon Prime’s rival.
The retailer said it is investing heavily in its multi-brand platform with the acquisition of Studio Retail to create the regulated flexible payment and loyalty offer.
In partnership with Tymitt, the group will integrate rewards and a regulated credit solution for customers that shop across the group’s brands.
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