Frasers Group news and archive

Asos believed to have received takeover offer, Frasers Group ups share

Shares for struggling online retailer Asos were boosted 7 percent after speculation over a rumoured takeover bid ran rampant through the media. According to The Sunday Times, the company was approached with a 1.24 billion dollar takeover bid in December 2022 by Trendyol, a Turkish online competitor backed by Chinese e-commerce giant Alibaba. The...

Business

Frasers Group confirms job cuts in cost-cutting drive

British fashion giant Frasers Group has confirmed it will be looking to cut jobs after reviewing its team structures “to identify efficiencies and streamline processes”. As many as 200 jobs could be axed, sources at the group told The Sun. Responding to the media reports, a spokesperson for the fashion chain said: “Frasers Group has gone through...

Business

Frasers Group reportedly preparing for takeover of THG’s ProBikeKit

Frasers Group is believed to be continuing its string of acquisitions, as it reportedly prepares for a potential takeover of cycling goods specialist ProBikeKit (PBK). It is believed that the high street retail empire is in “advanced talks” with PBK’s owner, online beauty and nutrition retailer THG, and is said to be close to buying the brand’s...

Business

Frasers Group believed to be exploring sale of Liam Gallagher’s Pretty Green

Frasers Group is understood to be in a series of discussions regarding the possible sale of Liam Gallagher’s Pretty Green after it acquired the brand from JD Sports last year. Pretty Green was among the 14 brands that Frasers had snapped up from JD in December 2022 after the sportswear group announced plans to narrow down its portfolio to focus...

Business

Frasers Group reportedly bringing former JD brands under Flannels label

Frasers Group is believed to be axing the stores of a number of brands formerly owned by JD Sports, as it looks to bring them under its already existing Flannels umbrella. The brands understood to be a part of the move include Base Childrenswear, Choice and Giulio, which will each be forced to close as part of the Flannels rebrand, as reported...

Retail |REPORT Featured

WRC 2023: Retail giants share the industry's key insights

For yet another year, this week the World Retail Congress brought together some of the world's most important leaders in fashion and retail as drivers of consumer trends and representatives of the current state of retail. The 2023 edition of the WRC took place in Barcelona. Experts from retailers such as Mango, Primark, Zalando, Sephora, Spanish...

Retail |World Retail Congress

Frasers Group to launch 'Frasers Plus', the new Amazon Prime?

Speaking at the World Retail Congress 2023, a conference that has taken over Barcelona for a total of three days, Michael Murray - CEO of Frasers Group - announced yesterday that the British retail giant is about to introduce ‘Frasers Plus’ to the UK market in what they have dubbed their own version of Amazon Prime. Frasers Plus is to be a...

Business

Frasers in running to buy back Prévu from administration

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...

Business

Frasers Group acquires shopping mall for 58 million pounds

Frasers Group has snapped up a Luton shopping centre in a 58 million pound deal as it looks to continue cementing its place in the retail landscape. The Mall, which houses over 150 retailers, was put up for sale by Capital & Regional last year. The real estate investment company said that it “had previously deconsolidated its interest in The...

Business

Frasers Group to commence 80 million pound share buyback programme

Fashion retail conglomerate Frasers Group has announced it intends to launch a new share buyback programme worth 80 million pounds. The initiative will cover the current period up until and including the last trading day prior to the company’s financial year end of April 30. In a regulatory filing, the group said the programme’s purpose is to...

Business

Studio Retail to grow team in first expansion since Frasers Group takeover

Studio Retail is said to be expanding its team as it looks towards a period of transformation under its new owner, Frasers Group. The Lancashire-headquartered company is reportedly creating 30 news jobs at its Clayton-le-Moors location, where it houses administrative and operational functions. The move is the first major step taken by Mike...

Business

Frasers Group completes acquisition of five JD Sports brands

British fashion giant Frasers Group has completed its acquisition of five brands from rival JD Sports. The group, whose fast-growing portfolio includes Sports Direct, House of Fraser, and Jack Wills, announced in December it had reached an agreement to buy 15 brands from JD in a deal worth 47.5 million pounds. On Wednesday, Frasers Group...