What: Frasers Group has made a strategic minority investment in We Do Play, marking its debut in the leisure sector and expanding its experience-led retail ecosystem through brands like Sports Direct.

Why it is important: The investment highlights the growing importance of experiential retail and the integration of leisure concepts as key drivers of customer loyalty, destination appeal, and future-proofing for retail property assets.

Frasers Group has taken a significant step into the leisure sector by acquiring a minority stake in We Do Play, a UK-based operator of experience-led brands such as Flip Out, Activate, Putt Putt Social, and Rumble Rooms. This strategic move aligns with Frasers’ broader vision to create a dynamic, experience-driven consumer ecosystem by integrating leisure, retail, and property assets. The partnership will enable the rapid expansion of innovative leisure concepts, with plans to launch more than 40 Activate locations nationwide, leveraging synergies with Sports Direct and Frasers’ growing real estate portfolio. By actively acquiring leisure operators and integrating them with its retail brands and shopping centres, Frasers is positioning itself as a leading retail destination that offers high-energy experiences and cross-selling opportunities. This approach not only drives footfall and engagement but also future-proofs its property assets in a changing retail landscape, setting a new benchmark for ecosystem-driven retail strategy in the UK.

IADS Notes:

Frasers Group’s diversification into leisure and experience-led retail is part of a broader transformation strategy that leverages property acquisition, brand integration, and ecosystem development. As reported by Retail Week (October 2024), the group’s aggressive expansion in the UK retail property market—including the acquisition of shopping centres like Princesshay, Fremlin Walk, and the Olympus Centre—demonstrates a commitment to controlling key retail destinations and enhancing the tenant mix with both retail and leisure brands. Retail Gazette (September 2024) highlights Frasers’ focus on revitalizing high streets and regional shopping centers, while Financial Times (October 2024) underscores the group’s strategic investment spree across multiple sectors to build a multi-brand, multi-format retail ecosystem. The May 2025 Retail Week coverage details the rollout of integrated loyalty schemes and the Elevate retail media network, illustrating how Frasers is connecting its diverse portfolio to drive customer engagement and cross-selling opportunities. Collectively, these developments show how Frasers Group is setting a new standard for retail diversification, using leisure, property, and digital innovation to create a dynamic, interconnected consumer ecosystem.

Frasers Group takes stake in leisure specialist We Do Play