Accent Group
ASXAX1
IndustryRetail
Founded1988
Headquarters,
Australia
Area served
Australia, New Zealand
Key people
David Gordon (Chairman)
Daniel Agostinelli (CEO)
ProductsFootwear
Revenue$1.3 billion (2022)
$62 million (2021)
$22 million (2022)
Websiteaccentgr.com.au

Accent Group is an Australian and New Zealand footwear and clothing retail, wholesaling and distribution company. It has more than 800 retail stores,[1] along with 19 brands, and more than 20 online platforms.[2]

The company is listed on the Australian Securities Exchange.[3]

History

Accent Group began as a small New Zealand wholesaling business in 1988.[2]

The company acquired several Australian fashion and footwear brands in the late 2010s and early 2020s.[4]

More than 400 Accent Group stores were closed for at least a month in 2020 due to lockdown restrictions brought on by the COVID-19 pandemic.[5] Restrictions between July and October 2020 caused it to miss expectations by AU$86 million, but the company benefited from an increase in online sales.[6]

The company reported a fourth consecutive year of record profit in the 2021 financial year. It recorded $1.14 billion in sales, an increase of 19.9% on the previous year.[4]

Accent Group reported a reduction in sales in the second half of 2021 due to effects of the COVID-19 pandemic. Between July and October, more than 400 of its 700 stores were required to close because of lockdowns.[3]

The business was affected by a drop in foot traffic in January 2022 due to the SARS-CoV-2 Omicron variant.[7] The company decided against providing guidance for the first half of 2022 due to uncertainties around supply chains.[8] However, fund manager Wilson Asset Management expected the company's performance to improve due to the easing of restrictions and increased foot traffic through its stores.[9]

Brands

Original brands

Hype DC store in Westfield Carousel
Platypus store in Westfield Carousel

Licensed brands

References

  1. ^ Ignacio, Celene (29 September 2023). "Accent Group marks 800th store with Nude Lucy opening at Miranda". Inside Retail Australia. Retrieved 24 January 2024.
  2. ^ a b c d e f g h i j k l m n o p q r s t u v w x y z aa ab ac ad ae af ag ah ai aj ak al am "Accent Group". accentgr.com.au. Accent Group.
  3. ^ a b Mickleboro, James (12 March 2022). "Broker tips this ASX dividend share to rise 69% and offer a generous yield". The Motley Fool.
  4. ^ a b Blake, Dean (19 November 2020). "Accent Group hit fourth year of record profit, chart overseas expansion". Octomedia. Inside Retailing.
  5. ^ McIlvaine, Heather (27 August 2020). "Quick shift online helps Accent Group maintain momentum". Octomedia. Inside Retailing.
  6. ^ Blake, Dean (19 November 2020). "Quick shift online helps Accent Group maintain momentum". Octomedia. Inside Retailing.
  7. ^ Evans, Simon (25 January 2022). "Hype and Platypus owner Accent Group hit as shoppers stay home". Australian Financial Review.
  8. ^ Pandey, Swati (24 March 2022). "Cracks Emerge in Australian Economy Approaching Maximum Velocity". Yahoo Finance.
  9. ^ Harrison, Tristan (18 March 2022). "Top fund manager reveals 2 smart ASX shares to buy". The Motley Fool.
  10. ^ Blake, Dean (6 May 2021). "Accent Group launches first 4Workers store today in Melbourne". Inside Retail Australia. Retrieved 24 January 2024.
  11. ^ "Hype DC". hypedc.com. Accent Group.
  12. ^ Palmer-Derrien, Stephanie (1 March 2022). "Stylerunner founders raise $1.6 million for new app that reimagines the coupon". Private Media. Smart Company.
  13. ^ Thomson, Simon (28 February 2022). "Stylerunner twins raise $1.6 million for their new shopping startup, Her Black Book". Pinstripe Media. Start Up Daily.
  14. ^ Bailey, Imogen (4 March 2022). "Stylerunner opens first store dedicated to vertical label". Yaffa. Rag Trader.
  15. ^ Dong, Irene (23 November 2023). "Platypus opens 200th store, promises 30 more by June". Inside Retail Australia. Retrieved 24 January 2024.
  16. ^ "Subtype Store". subtypestore.com. Accent Group.
  17. ^ "The Athlete's Foot". theathletesfoot.co.nz. Accent Group.
  18. ^ "Subtype Store". drmartens.co.nz. Accent Group.
  19. ^ Bailey, Imogen (30 March 2021). "Accent reveals details of Hoka One One deal". Ragtrader. Retrieved 16 September 2023.
  20. ^ Bailey, Imogen (18 November 2021). "Accent Group to add Reebok to portfolio". Yaffa. Rag Trader.
  21. ^ "How Stance Socks' Innovative Approach Led to its NBA Deal". sneakershouts.com. 26 April 2016. Retrieved 4 May 2016.
  22. ^ "Timberland". timberland.co.nz. The Timberland Company.