What are the key targets in the Accent Group (ASX:AX1) 2030 growth plan?

Accent Group aims to reach at least $1.9 billion in annual sales and an EBIT margin exceeding 9% by 2030. To support this revenue growth, the company plans to expand its physical footprint to approximately 950 stores across Oceania.

How does Accent Group (ASX:AX1) plan to use Sports Direct for expansion?

The rollout of Sports Direct is a primary growth lever, with a target of 30 stores across Australia and New Zealand by 2029. Long-term, management sees the potential to scale this brand to between 50 and 100 locations.

Why is Accent Group (ASX:AX1) buying back The Athlete’s Foot franchises?

Accent Group is investing $50 million to reacquire the remaining 30 franchised The Athlete’s Foot stores to bring them under direct corporate control. This "evolution" pillar is designed to capture the full retail margin and bolster overall earnings.

What is the "efficiency" pillar in the Accent Group (ASX:AX1) strategy?

The company is targeting $40 million in gross cost savings, with $30 million of these initiatives already actioned for the 2027 financial year. A key component of this plan involves deploying AI-oriented projects to streamline support office operations and retail team costs.

Why is Accent Group (ASX:AX1) closing 39 stores despite a growth plan?

Accent Group is closing 39 underperforming stores where sustainable rent agreements could not be reached with landlords. This is a tactical move to exit loss-making locations and reallocate capital toward higher-growth opportunities like HOKA and Nude Lucy.

How have individual brands like HOKA and Nude Lucy performed for Accent Group?

HOKA has seen brand awareness and sales grow more than threefold during its latest distribution phase, with new flagship stores planned for Sydney and Brisbane. Meanwhile, Nude Lucy has surged from $32 million in sales in FY23 to approximately $70 million in the most recent 12-month period.

Accent Group targets $1.9B sales in 2030 plan

Written by Heidi Cuthbert Published May. 13 2026Last Updated May. 13 2026

Footwear giant Accent Group (ASX:AX1) announced a 2030 strategic growth plan, aiming to cement its position as Oceania's premier lifestyle brand destination.

The retail powerhouse is targeting at least $1.9 billion in annual sales and an EBIT margin exceeding 9%, supported by an expanded network of approximately 950 stores.

The roadmap follows a solid 2025 financial base of $1.5 billion in sales and a record 13 million pairs of shoes sold, signalling a bold leap in market penetration over the next four years.

The strategy hinges on three core pillars: efficiency, evolution, and expansion. A major driver of this growth is the rollout of Sports Direct, with plans to open 30 stores across Australia and New Zealand by 2029, potentially scaling to 100 locations long-term.

The group is aggressively pursuing its franchise reacquisition programme for The Athlete’s Foot, investing $50 million to bring the remaining 30 franchised stores under corporate control to bolster earnings.

Efficiency remains a high priority, with Accent targeting $40 million in gross cost savings through AI-oriented projects and streamlined support operations.

While the group is closing 39 underperforming stores where rent negotiations faltered, the focus has shifted towards high-growth labels like Nude Lucy and HOKA.

CEO Daniel Agostinelli expressed confidence in the plan, citing a pipeline of earnings initiatives and a highly experienced team of 9,000 members ready to drive long-term shareholder value through 2030.

At the time of reporting, Accent Group’s share price was $0.57.