The Athlete’s Foot owner bets on rollout of UK sports giant Sports Direct to achieve $1.9b in sales by 2030

Australia’s biggest footwear retailer Accent Group is banking on the rollout of British sporting goods giant Sports Direct to hit its ambitious sales target of $2 billion by the end of the decade.

The company — behind popular footwear retailers Hype, The Athlete’s Foot and Platypus, as well as clothing brand Nude Lucy — unveiled the $1.9b sales target at a strategy day on Wednesday. That figure compares with the $1.62b recorded in the 2025 financial year.

Earlier this month, Accent disclosed the Australian Securities and Investments Commission was investigating suspected insider trading by chief executive Daniel Agostinelli and others in the footwear retailers.

On Wednesday, Mr Agostinelli told investors on a call he was excited by the growth and potential of Sports Direct within Australia’s $5b fitness retail market.

Sports Direct has two Australian stores — in Chatswood Chase, Sydney and Westfield Fountain Gate, Melbourne — and Accent is targeting to have 30 domestically within three years.

Sports Direct has more than 700 stores globally and is expected to have up to 100 in Australia and New Zealand over time.

Change is also expected at The Athlete’s Foot, with Accent revealing plans to reclaim the 30 remaining franchise stores by 2030.

With $50 million earmarked for the buybacks, Accent said it would contribute a $14m increase in earnings by the end of the decade.

Accent plans to have a total of about 950 stores by 2030 across all of its brands in Australia and NZ, up from the current 900.

“I see our business as the region’s leading destination for performance and lifestyle,” Mr Agostinelli said.

“We are the brand custodians in Australia and New Zealand for a number of the world’s best performance and lifestyle brands, and our multi-brand retail businesses and vertically-owned businesses make us a key partner for brands in the market.”