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Business

Frasers Group secures almost 6 percent stake in Puma

Investors snapped up shares in Adidas and Puma on Thursday. With share price gains of 4.1 percent and 6.9 percent, the two sportswear manufacturers led the list of gainers on the Dax and MDax respectively. A transaction by British billionaire and investor Michael Ashley provided a boost for Puma. Specifically, it involves the sale of financial...

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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...

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Retail

Sports Direct unveils first-ever Christmas advert

Sports Direct has launched its first-ever Christmas advert in a bid to showcase what it calls its new and fresh, elevated brand positioning and rebrand for 2021. The UK’s biggest sports and fitness retailer has invested 5 million pounds into its ‘Sports Starts Here’ Christmas campaign, as it looks to demonstrate its “unique high street and...

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Business

Mike Ashley's Frasers Group exits Debenhams race

Mike Ashley’s Frasers Group is reportedly out of the race to acquire Debenhams after failing to match a 300 million pound price tag demanded by the UK department stores group’s advisers. According to The Times, those advisers must now choose whether they want to liquidate the 232-year-old business, break it up and sell it to different buyers, or...

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Business

Frasers Group buys stake in Hugo Boss in latest upmarket move

Mike Ashley’s Frasers Group has taken a 5.1 percent stake in German label Hugo Boss through stocks and derivatives as it continues its plan to become more high-end. The group, which owns House of Fraser, Flannels, Jack Wills and Evans Cycles, said the decision reflects its growing relationship with Hugo Boss as well as its belief in its...

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Business

Sports Direct boss Mike Ashley ‘deeply' sorry for Covid-19 response, offers support to NHS

Sports Direct boss Mike Ashley has said he is “deeply apologetic” for his company’s earlier efforts to keep stores open amid the country’s lockdown and has offered to help the NHS during the pandemic. On Monday evening, prime minister Boris Johnson announced the immediate closure of all ‘non-essential’ stores across the country - including...

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Business

Sports Direct to rebrand as Frasers Group

Sports Direct International is to rebrand as Frasers Group in December as part of the company’s elevation strategy. The UK sportswear giant is expected to formally rebrand after its shareholder meeting 16 December. Following its acquisition of House of Fraser, Sports Direct is upgrading its profile and consumer position, which also owns luxury...

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Business

Sports Direct calls for probe into Nike and Adidas

Mike Ashley’s Sports Direct has called for sportswear giants Nike and Adidas to be investigated over their domination in the industry. The news comes after an article from The Sunday Times published this week said Nike would be ending supply deals with several independent retailers, stating that their way of stocking its goods was “no longer...

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Business

​Sports Direct set to sell Dunlop for 112 million pounds

London - Sports Direct is set to sell off sportswear brand Dunlop to Sumitomo Rubber Industries (SRI) for 112 million pounds (137.5 million dollars). The sale, which took the industry by surprise earlier this week, sees the Japanese company acquire the trademark rights of the Dunlop brand overseas, as well as its related wholesale and licensing...

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