Frasers Group news and archive

Frasers Group updates on investment in Hugo Boss

Frasers Group Plc (FRAS.L ZVX.F), a British retail, sport and intellectual property group, Friday issued an update regarding its investment in German luxury fashion brand Hugo Boss AG (HUGSF.PK). Frasers' current investment in Hugo Boss now comprises 2.71 million shares of common stock, representing 3.9 percent of Hugo Boss's total share capital...

People

Frasers Group CEO Mike Ashley reportedly ‘set to step down’

Frasers Group boss Mike Ashley is reportedly set to step down from the helm of the retail empire he founded almost 40 years ago. Ashley is expected to hand the reins over to Michael Murray, who is Frasers Group’s head of elevation and who is also engaged to Ashley’s daughter Anna, The Telegraph reports. It is thought Ashley would then become...

Business

Frasers Group 'does not intend to bid for Hugo Boss'

Mike Ashley’s Frasers Group says it does not plan to make a bid for German label Hugo Boss following rumours of a potential takeover in the works. In a brief statement on Thursday, the British company said: “Frasers Group wishes to make a market clarification that Frasers Group does not intend to bid for Hugo Boss AG.” Shares in Hugo Boss jumped...

Retail

Frasers Group opens first Frasers store in Wolverhampton

Frasers Group has opened its first Frasers store in Wolverhampton as part of a larger multi-brand shopping destination. Located in the Mander Centre, in a former Debenhams unit, the 34,000 square foot Frasers store offers over 120 brands spanning beauty, fashion, lifestyle, kids and home brands, and also has a restaurant for visitors. The new...

Business

Frasers Group sells entire stake in French Connection

Mike Ashley’s Frasers Group has revealed it sold its entire 24.93 percent stake in French Connection amid news the retailer has been approached by two potential buyers. French Connection confirmed on Friday that it had received one approach from Spotlight Brands in conjunction with Gordon Brothers International, and another from Go Global Retail...

Retail

Frasers Group to close iconic Jenners store in Edinburgh

Frasers Group is to close its iconic 180-year old Jenners department store on Princes Street in Edinburgh, resulting in around 200 redundancies. The store will close on 3 May, with new renovation plans for the space thought to include a hotel, cafés and rooftop bar and restaurant. It comes after Frasers failed to agree on a deal to extend its...

Business

Frasers Group increases Hugo Boss stake to 15.2 percent

Mike Ashley’s Frasers Group has upped its stake in German label Hugo Boss in its latest move to reposition itself in a more upmarket segment. The group announced Wednesday that it’s increased its stake in the label to 15.2 percent through stocks and derivatives, up from the 5.1 percent stake it acquired back in June 2020. Frasers Group, which...

Business

Frasers Group acquires fashion retailer Psyche

Mike Ashley’s Frasers Group has acquired the stores and online business of fashion retailer Psyche for an undisclosed sum. Psyche owner Steve Cochrane, who has run the business for the past 38 years and will continue as CEO following the takeover, said the deal would secure the future of his company and its 58 workers. “After 38 years as an...

Business

Arcadia suitors given 18 January deadline

Arcadia’s administrator Deloitte has reportedly accelerated the sale of the retail group’s fashion brands, giving potential suitors a deadline of 18 January to make final bids. According to The Times, Deloitte has narrowed the frontrunners down to just five, though they are understood to have been around thirty expressions of interest. Those...

Business

Frasers Group scraps guidance following fresh UK restrictions

Frasers Group has withdrawn its guidance after new Covid-19 restrictions announced for London and the South East over the weekend meant the closure of “virtually all” of its stores in those areas. The group said Monday it has withdrawn its guidance of a 20-30 percent increase in underlying EBITDA during FY21. It comes after Boris Johnson...

Featured

Retail

Flannels to open 3 regional flagships in 2021, including Liverpool megastore

Frasers Group has announced plans to open three new regional flagship Flannels stores in 2021, including a seven-floor megastore in Liverpool. A 120,000 square foot Flannels store will open on Liverpool’s iconic Parker Street in the autumn, taking over the city’s ‘Owen Owen’ building. Set over seven floors, the multi-brand store will feature an...

Business

Frasers Group says it won’t make offer for Mulberry

Frasers Group has said it will not place an offer for Mulberry after the British luxury label was placed into an offer period last month when Frasers Group raised its stake to 36.8 percent. Frasers Group first bought a 12.5 percent stake in Mulberry in February as part of the company’s efforts to reposition itself as more upmarket. It then upped...