Prévu Studio, a London-based brand that was acquired by Frasers Group from JD Sports last year, has entered administration as of March. Frasers Group, formerly known as Sports Direct International, is the front runner to buy it back. The Gazette, a publication of record, reported that Michael Lennon and Benjamin Wiles of Kroll Advisory were appointed as the administrators. News of the potential deal was first reported by Drapers.
Despite Prévu Studio entering administration, Frasers Group is reportedly in the lead to repurchase the business from the administrators, and the deal is expected to be finalised in the near future. By entering administration companies can protect the business and its creditors, as well as explore potential options for its future.
Frasers Group has made several acquisitions in the last year. In December 2020, the company acquired 14 businesses from JD Sports Fashion, which included Base Childrenswear, Choice, Clothingsites, Cricket, Giulio, Kids Cavern, Missy Empire, Nicholas Deakins, Pretty Green, Prévu Studio, Tessuti (including Xile), Scotts, Watch Shop, and Topgrade Sportswear (including Get the Label). In addition, in February 2021, Frasers Group acquired the assets of DW Sports, a fitness and leisure business that had entered administration due to the impact of the pandemic.
Jake Hall, the founder of Prévu Studio, is well known for his presence on social media as an influencer and reality television personality. He first rose to fame in 2015 when he appeared on the British reality TV show The Only Way is Essex (TOWIE). Known for his fashion sense, Mr Hall quickly built a large following on social media by sharing his style choices with his fans. This led to the launch of his own fashion label, Prévu Studio, in 2016.
The brand quickly gained popularity, and Hall dressed numerous celebrities, including Bella Hadid, Romeo Beckham, and members of the England football team.
Hall recently announced plans to re-enter the fashion industry with his new brand, By Jake Hall.