Frasers has acquired Australian luxury footwear brand Sneakerboy.

The Sneakerboy concept store was at the cusp of the retail revolution. It was an online store with no stock, no cash, and no product to take home. All that was needed to make a purchase in the store was a smart phone. The rest of the available space was dedicated to the range of shoes, which meant Sneakerboy could boast a larger range of stock on a much smaller footprint.

Frasers will take on employee entitlements but will not take on additional liabilities of Sneakerboy. Sneakerboy has three remaining stores in Australia. From 2018 there were a few warning signs, pay was occasionally a tiny bit late, like a day late.Then over the years it would be one to two weeks late.

This acquisition further strengthens and diversifies the group’s luxury proposition, while securing the future of Sneakerboy and allowing the luxury footwear retailer to benefit from Frasers’ expertise in this sector. Frasers is a UK-based apparel and sportswear firm. Frasers operates businesses including Jack Wills, Flannels, USC and Sports Direct and also recently acquired N Brown, Studio Retail, Missguided and I Saw It First and has amassed stakes in both Hugo Boss and Mulberry.