Studio plunged into administration after its request for a short-term loan from its bank was rejected. The Mike Ashley-controlled retail group had been the catalogue and online retailer’s biggest shareholder, holding a 28.9% stake at the point of its collapse. Studio Retailįrasers Group picked up Studio Retail out of administration in a £26.8m deal. Young fashion retailers Missguided and ISawItFirst now operate under one division. In the latter half of 2021, Missguided sold 50% of the business to Alteri Investors as it sought emergency funding. This was not the first time it experienced troubles. The brand collapsed after its clothing suppliers that were owed millions issued a winding up petition. Missguided was acquired by the group in a £20m deal last June following its administration. The retail group must have been impressed with ISawItFirst’s CEO Greg Pateras, who it hired to oversee both the brand and its earlier acquisition Missguided, not long after it acquired the brand. It emerged this week that Frasers only paid £1 for the retailer, which was set up by Jalal Kamani, the brother of Boohoo co-founder Mahmud Kamani.įrasers Group stated that at the time of the acquisition, that the online fast fashion retailer owed £13m to its shareholders. was acquired by Frasers Group last July, the latest in the tranche of online retailers it has snapped up this year. The 250-year-old menswear retailer was put up for sale after its owner, Hong Kong-based Trinity Group, went into liquidation in December 2021. Murray, at the time of the acquisition, said: “This acquisition further adds to our portfolio of strategic investments in luxury and premium brands.” In November last year, the retail conglomerate snapped up the Gieves & Hawkes brand and five UK stores, including its Savile Row shop. The online platform houses over 300 of the world’s leading home brands such as Missoni, Versace Home and more.įrasers Group chief executive Michael Murray said: “This acquisition will build on our ambitions to create a credible homeware destination for Flannels.” Gieves & Hawkes Late last year, Frasers Group added online homewares retailer to its vast retail portfolio for an undisclosed sum. Rascal Clothing was withdrawn from the deal due to one of the founders exercising a pre-emption right, which was agreed upon as part of JD’s acquisition in February 2019 but the sporting group said it expects the divestment of Topgrade Sportswear to also be completed in due course. Former-JD Sports fashion brandsĪt the start of the year JD Sports formally completed the divestment of non-core UK fashion brands to Frasers Group.īrands including Tessuti, Scotts, Choice, Giulio and Cricket brands were all sold to Mike Ashley’s Frasers under the terms outlined on 16 December 2022. Murray said the purchase would support the group’s growth in Europe and was a “big step” towards its “journey to becoming the number one sports retailer in EMEA”.įrasers confirmed that the retailer would equally from the its Elevation Strategy which has driven strong performance across the business by investing in store concepts, digital capabilities and strengthened brand relationships. What does Frasers Group own?įrasers Group revealed this week it was set to add leading German sports retailer SportScheck to its rapidly increasing portfolio. Over the past week, Next has swooped to buy FatFace whilst Mike Ashley’s group have snapped up German sporting chain SportScheck and has lifted its stakes in Asos to 22.8%, sparking takeover speculation, and in Boohoo to 15.1%, becoming its largest shareholder.Īs the pair continue to build their empires, Retail Gazette looks at what businesses the two groups own and their timeline of acquisitions. Frasers Group and Next have been back to their acquisitive best.
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