Frasers Group news and archive

Frasers Group to launch Sports Direct in ANZ region with Accent Group

Frasers Group has secured a 25-year strategic retail agreement with Accent Group that will see its sportswear retailer, Sports Direct, launch across Australia and New Zealand. The company said it is planning to open 100 stores in the region, with further opportunities among other retail and business segments to be potentially explored in the...

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Frasers Group increases Hugo Boss shareholding through put options

Britain’s Frasers Group, the owner of retail chains like Sports Direct, has significantly expanded its investment in German luxury fashion house Hugo Boss through the sale of additional put options. This latest transaction strengthens Frasers Group’s existing stake, with the company now directly holding more than 13.5 million shares of Hugo...

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Frasers Group to bring Sports Direct stores to India, four new Southeast Asian markets

British retail giant Frasers Group and Indonesian departmental store operator MAP Active have announced the expansion of their partnership to launch the Sports Direct brand and retail stores across five new markets in southeast Asia and India. In the long term, the ambitious growth plan is set to include opening over 350 stores in the region. To...

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Frasers Group to make another bid for Norway’s XXL ASA

Frasers Group is once again pursuing XXL ASA. The company issued a statement via the Oslo Stock Exchange to confirm that it was to make a mandatory offer for the remaining shares of the Norwegian sportswear retailer. As part of a fully underwritten rights issue announced by XXL in January, Frasers will be granted just under 28.8 million...

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Frasers Group to cut 30 percent of design and editorial roles

Frasers Group, the parent company of Sports Direct and Flannels, is said to have entered into a consultation with staff in its design and editorial teams as part of its latest restructuring. A spokesperson for the company confirmed the news to Retail Gazette, to which they said that 30 percent of employees in the affected teams will be impacted....

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Frasers Group partners with GMG to bring Sports Direct to MENA region

British retail giant Frasers Group has struck up a 10-year strategic retail partnership with GMG, a retail and distribution company that will be tasked with bringing the Sports Direct brand to the Middle East and North Africa (MENA) region. Through the deal, GMG and Frasers will work on driving “significant growth opportunities, harnessing the...

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Frasers Group halts takeover of Norway’s XXL ASA

British retail giant Frasers Group has announced that it will no longer proceed with its intended offer for Norwegian sporting goods retailer, XXL ASA. In an announcement shared via the Oslo Stock Exchange, Frasers said that the offer had been subject to several conditions, and thus it “reserved the right not to proceed” if it “became evident...

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Frasers accuses Boohoo of making undisclosed payments to founder’s son

On January 21, Frasers Group’s final resolution for Boohoo shareholders was ultimately turned down, meaning the fast fashion conglomerate’s founder, Mahmud Kamani, was to retain his place as director. While this seemingly brought an end to another chapter in the duo’s leadership battle, it appears yet another twist in the story is only just...

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Boohoo shareholders vote against Frasers' proposal to remove co-founder

The shareholders of Boohoo Group have voted against a proposal to remove co-founder, Mahmud Kamani, as a director of the fast fashion company. A total of 63.17 percent voted against the resolution, as opposed to 36.83 percent voting for it. The proposal had been brought forth by Frasers Group, a majority shareholder in Boohoo, which had called...

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Proxy advisor backs Boohoo’s call to vote against Frasers’ resolutions

Boohoo has stated that an independent proxy adviser has backed its position for shareholders to vote against a resolution brought forth by Frasers Group, which is seeking the removal of Mahmud Kamani as a director. In making its recommendation, Glass Lewis is believed to have recognised the initiation of “significant actions” by Boohoo in recent...

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Boohoo calls on shareholders to vote against founder’s board removal

Boohoo has once again called on shareholders to vote against a resolution to be brought forth in an upcoming general meeting requisitioned by Frasers Group. Set to take place 21 January 2025, the meeting will require shareholders to vote on whether or not to remove Boohoo founder Mahmud Kamani as a director of the business. In a new letter...

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Unwrapping in 2025 – Fashion giants tackle a challenging market: Acquisition and bankruptcy aftermath

From blocked merger attempts to widescale bankruptcies, 2024 has been somewhat of a rollercoaster for brands across all subcategories. FashionUnited takes a look at what is on the horizon as the biggest stories of this year continue to unfold into 2025. Head-to-head: Fashion giants tackle turbulent market A major merger at Saks and Neiman Marcus...