Frasers Group Acquires WIT Fitness

Frasers Group acquired the assets and IP of WIT Fitness.

What’s happening: The Sports Direct owner added omnichannel retailer and training brand WIT Fitness to its portfolio, joining Flannels, Everlast Gyms, Evans Cycles and Lillywhites.

Part of its “elevation strategy”, James France, Frasers Group Head of Acquisitions, says the deal brings the British retailer one step closer to its global goals.

“This acquisition supports our ambition to be a world-leading sports retailer, by bringing another elevated sports brand into Frasers Group’s diverse ecosystem.”

Retail therapy. In addition to bringing Barry’s studio into Flannels Liverpool and premiumising Everlast Gyms, Frasers Group inked strategic growth deals in recent years.

• Acquiring DW Sports’ gym and retail portfolio for £37M in 2020
• Buying brands, including Cricket, from JD Sports for £47.5M in 2022
• Closing a €350M deal in 2023 for German sports retailer SportScheck

Community first. Delivering a mix of experiential retail, training and branded apparel through a London flagship and e-commerce, WIT Fitness will amplify Frasers Group’s sports retail footprint.

Cultivating community, WIT has a long-standing tie to CrossFit, gaining popularity with its 5M members as outfitter and training site. Bringing CEO Matt Brewster on board to accelerate retail, the brand’s affiliation with fast-growing fitness racing brand HYROX is taking it to new territory.

Takeaway: The Mike Ashley-owned Frasers Group is known for its shopping sprees, but this deal feels different, tapping into strong, established and expanding fitness communities to turbocharge growth. If any operators need reminding that a dedicated community matters, this is it.