{"id":9664,"date":"2023-06-20T22:40:46","date_gmt":"2023-06-20T22:40:46","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/what-does-the-retail-giant-own\/"},"modified":"2023-06-20T22:40:46","modified_gmt":"2023-06-20T22:40:46","slug":"what-does-the-retail-giant-own","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/what-does-the-retail-giant-own\/","title":{"rendered":"What does the retail giant own?"},"content":{"rendered":"

\"Retail<\/a><\/p>
\n<\/p>\n

\n
\"Frasers<\/div>\n

Frasers Group snapped up a 9% stake in Currys and 5% in Boohoo this week as the Mike Ashley-controlled business solidifies its reputation as retail\u2019s most acquisitive firm.<\/p>\n

This week\u2019s deals come on top the \u00a375m stake iit took in AO World and the additional shares it bought in Asos last week.<\/p>\n

Such is Ashley\u2019s rampant deal-making that it can be difficult to keep track with what exactly he owns.<\/p>\n

Retail Gazette looks at the retailers and stakes he owns and the timeline of Frasers Group\u2019s many acquisitions.<\/p>\n

What does Frasers Group own?<\/span><\/h3>\n

Stakes<\/h2>\n

\"\"<\/p>\n

AO<\/h4>\n

\"WhatLast week Frasers Group took a 19% stake in Bolton-based online electrical retailer AO World, worth \u00a375 million, from troubled hedge fund Odey Asset Management.<\/p>\n

Michael Murray said that \u201cthrough this investment, Frasers will benefit from AO\u2019s valuable know-how in electricals and two-man delivery, helping us to drive growth in our bulk equipment and homeware ranges. In turn, AO will have the opportunity to benefit from Frasers\u2019 expertise and ecosystem.\u201d<\/p>\n

Asos<\/h4>\n

\"Asos\"<\/p>\n

Frasers Group raised its stake in Asos three times this month and it now sits at 10.6%, as speculation over a takeover of the embattled online fashion retailer mounts.<\/p>\n

Asos has three big shareholders: Bestseller owner Anders Holch Povlsen, who holds a 26% stake, hedge fund Camelot Capital Partners, which who has 15%, and Frasers Group with 10.6%.<\/p>\n

Boohoo<\/h4>\n

\"Boohoo\"<\/p>\n

It emerged this week that Frasers Group had taken a 5% stake in Boohoo. The retail group described Boohoo as an \u201cattractive proposition\u201d through its \u201claser focus on young female consumers\u201d.<\/p>\n

\u201cWe see potential synergies and an opportunity to strengthen our own brand proposition in collaboration with Boohoo, most obviously with Frasers Group brands I Saw It First and Missguided,\u201d it explained.<\/p>\n

Currys<\/h4>\n

Just a week after taking a stake in Ao.com, Frasers took a 9% in its rivals Currys.<\/p>\n

The retailer said it planned to deepen the relationship between Currys and the online department store Studio, which Frasers also owns.<\/p>\n

It also said it \u201cprovides us with a valuable opportunity to build on our foothold in the electricals industry\u201d.<\/span><\/p>\n

\u201cThrough this investment, we also believe Currys will benefit from Frasers\u2019 deep retail know-how and our sector-leading ecosystem,\u201d it said.<\/span><\/p>\n

N Brown<\/h4>\n

\"n<\/p>\n

At the start of the year Frasers significantly increased its stake in online group N Brown to 17.88% to become its second-largest shareholder behind Lord David Alliance.<\/p>\n

N Brown operates brands including JD Williams, Jacamo and Simply Be.<\/p>\n

Hugo Boss<\/h4>\n

\"Frasers<\/p>\n

After increasing its investment in the luxury fashion brand late last year, in January Frasers revealed that its financial exposure to Hugo brand had fallen to \u00a3580m.<\/p>\n

Frasers now holds 3.9% of Hugo Boss shares but has a put option over an additional 25%, below the 4.3% stake and 30.3% in put options it held in November.<\/p>\n

The group has always made clear its intention to be a \u201csupportive stakeholder\u201d in Hugo Boss and said it holds belife in the brand, strategy and its management team.<\/p>\n

Mulberry<\/h4>\n

\"Mulberry\"<\/p>\n

Back in November Frasers raised its stake on the luxury retailer to almost 37% although a month later the group said it would not be making\u00a0a formal offer for Mulberry, wiping \u00a315m off its value.<\/p>\n

Last month, Frasers Group requested a voice in Mulberry\u2019s boardroom due to a perceived lack of transparency around its Asian business and what level of control Mulberry\u2019s largest shareholder, Singapore-based billionaire Ong Beng Seng and his wife Christina, have there.<\/p>\n

Retailers it owns outright<\/h2>\n

\"\"<\/p>\n

Former-JD Sports fashion brands<\/h3>\n

Acquired: February 2023<\/p>\n

\"\"<\/p>\n

At the start of the year Frasers Group formally formally acquired the \u201cnon-core\u201d UK fashion brands of JD Sports.<\/p>\n

Brands including Tessuti, Scotts, Choice, Giulio and Cricket brands were all included in the transaction.<\/p>\n

Amara.com<\/h3>\n

Acquired: December 2022<\/p>\n

\"Amara\"<\/p>\n

Late last year, Frasers Group added online homewares retailer Amara.com to its vast retail portfolio for an undisclosed sum.<\/p>\n

The online platform houses over 300 of the world\u2019s leading home brands such as Missoni, Versace Home and more.<\/p>\n

Frasers Group chief executive Michael Murray said: \u201cThis acquisition will build on our ambitions to create a credible homeware destination for Flannels.\u201d<\/p>\n

Gieves & Hawkes<\/h3>\n

Acquired: November 2022<\/p>\n

\"Gieves<\/p>\n

In November last year, the retail conglomerate snapped up the Gieves & Hawkes brand and five UK stores, including its Savile Row shop.<\/p>\n

Murray, at the time of the acquisition, said: \u201cThis acquisition further adds to our portfolio of strategic investments in luxury and premium brands.\u201d<\/p>\n

The 250-year-old menswear retailer was put up for sale after its owner, Hong Kong-based Trinity Group, went into liquidation in December 2021.<\/p>\n

ISawItFirst.com<\/h3>\n

Acquired: July 2022<\/p>\n

\"ISawItFirst.com\"<\/p>\n

ISawItFirst.com was acquired by the retail group last July, the latest in the tranche of online retailers it has snapped up this year.<\/p>\n

It emerged this week that Frasers only paid \u00a31 for the retailer, which was set up by Jalal Kamani, the brother of Boohoo co-founder Mahmud Kamani.<\/p>\n

Frasers Group stated that at the time of the acquisition, that\u00a0the online fast fashion retailer owed \u00a313m to its shareholders.<\/p>\n

Missguided<\/h3>\n

Acquired: June 2022<\/p>\n

\"Missguided\"<\/p>\n

Missguided was acquired by the group in a \u00a320m deal last June following its administration.<\/p>\n

The brand collapsed after its clothing suppliers that were owed millions issued a winding up petition.<\/p>\n

This was not the first time it experienced troubles. In the latter half of 2021, Missguided sold 50% of the business to Alteri Investors as it sought emergency funding.<\/p>\n

Young fashion retailers Missguided and ISawItFirst now operate under one division. As well as selling through their own websites, he brands are also available via House of Fraser.<\/p>\n

Studio Retail<\/h3>\n

Acquired: February 2022<\/p>\n

\"Studio<\/p>\n

Frasers Group picked up Studio Retail out of administration in a \u00a326.8m deal.<\/p>\n

The Mike Ashley-controlled retail group had been the catalogue and online retailer\u2019s biggest shareholder, holding a 28.9% stake at the point of its collapse.<\/p>\n

Studio plunged into administration after its request for a short-term loan from its bank was rejected. The brand needed the loan while it sold through excess stock it was left with after shipping issues peak last year caused delivery delays.<\/p>\n

Jack Wills<\/h3>\n

Acquired: August 2019<\/p>\n

\"Jack<\/p>\n

Frasers Group, then Sports Direct, snapped up the Jack Wills brand and UK trading assets in a \u00a312.8m pre-pack administration deal in August 2019.<\/p>\n

The retailer, popular for its preppy style, brought in administrators after it struggled with cash flow after it plunged to a pre-tax loss of \u00a329.3m in the year to 31 January, 2018.<\/p>\n

Since then, the brand has been stocked in House of Fraser while several underperforming Jack Wills stores have closed down.<\/p>\n

The brand continues to operate as a separately under the Frasers umbrella.<\/p>\n

Sofa.com<\/h3>\n

Acquired: February 2019<\/p>\n

\"Sofa.com\"<\/p>\n

Frasers Group acquired Sofa.com in February 2019 for a \u201cnominal sum\u201d beating out furniture specialist ScS Group.<\/p>\n

The furniture brand, which had concessions in House of Fraser, reportedly suffered after the department store fell into administration in 2018.<\/p>\n

After being bought out, it continues to operate as a separate brand and has retained its concessions in House of Fraser.<\/p>\n

House of Fraser<\/h3>\n

Acquired: August 2018<\/p>\n

\"House<\/p>\n

As one of the group\u2019s most high profile acquisitions, House of Fraser was snapped up in a \u00a390m pre-pack administration deal in 2018.<\/p>\n

At the time, its then-CEO Mike Ashley made promises to turn the 173-year-old retailer into the \u2018Harrods of the high street\u2019.<\/p>\n

However, the retailer has been in terminal decline since entering administration \u2013 with Ashley even branding the acquisition as a mistake in 2019.<\/p>\n

Its stores have been gradually disappearing from the high street with just over 30 left across the UK. It had 59 when the group bought it.<\/p>\n

Frasers has used the brand\u2019s remaining stores to stock products from its other fashion, furniture and lifestyle brands such as Jack Wills, I Saw It First and Sofa.com.<\/p>\n

Evans Cycles<\/h3>\n

Acquired:October 2018<\/p>\n

\"Evans<\/p>\n

\n

Sports Direct snapped up Evans Cycles in a pre-pack administration deal, which saw half of the bike retailer\u2019s stores close.<\/p>\n

Little is known about how the brand has performed since the acquisition, although it is likely the retailer had a bumper time during the pandemic when cycling took off.<\/p>\n<\/div>\n

Game<\/h3>\n

Acquired: June 2019<\/p>\n

\"Game\"<\/p>\n

Mike Ashley added Game to his retail empire in June 2019 in a \u00a352m deal.<\/p>\n

Frasers Group, which was Sports Direct at the time, had built a sizeable share in the gaming retailer, which it upped to 30% in 2019, sparking a\u00a0mandatory takeover bid.<\/p>\n

Since the acquisition, Game has strengthened its position. The retailer, which had been in a perilous position as gamers were increasingly bypassing traditional retailers, has been creating gaming spaces both in stores and online.<\/p>\n

Agent Provocateur<\/h3>\n

Acquired: March 2017<\/p>\n

\"Agent<\/p>\n

Frasers Group acquired Agent Provocateur in a pre-pack administration deal worth \u00a327.5m back in March 2017.<\/p>\n

The lingerie retailer was put up for sale by its private equity owner, 3i, after it struggled from challenging trading conditions and an accountancy error in November that lowered the value of the business by \u00a339m.<\/p>\n

It continues to operate as a separate brand with its own stores as well as stocked in some of Ashley\u2019s stores and other retailers.<\/p>\n

Flannels<\/h3>\n

Acquired: 51% stake in 2012, full control in September 2017<\/p>\n

\"Flannels\"<\/p>\n

The retail conglomerate announced in September 2017 it had taken full ownership of Flannels having previously acquired a 51% stake back in 2012.<\/p>\n

The multi-brand retailer stocks a long list of designer brands including Gucci, Vivienne Westwood and Stone Island.<\/p>\n

Since then, the group has been persistent on its expansion plans for the retailer opening new flagship stores in major UK cities and entering the Irish market.<\/p>\n

USC<\/h3>\n

Acquired: 80% stake in 2011, fully owned 2015<\/p>\n

\"USC\"<\/p>\n

Frasers Group, then Sports Direct, bought an 80% stake in USC from Scottish entrepreneur Sir Tom Hunter for \u00a37m in July 2011.<\/p>\n

However, in early 2015 the young fashion retailer plunged into administration and was bought back by Frasers-owned Republic.<\/p>\n

The USC brand name was retained, and Republic was retired.<\/p>\n

Click here to sign up to Retail Gazette\u2018s free daily email newsletter<\/strong><\/em><\/p>\n<\/p><\/div>\n

\"Retail<\/a><\/p>
<\/p>\n","protected":false},"excerpt":{"rendered":"

Frasers Group snapped up a 9% stake in Currys and 5% in Boohoo this week as the Mike Ashley-controlled business solidifies its reputation as retail\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":9524,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-9664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-magazines"],"_links":{"self":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/9664","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/comments?post=9664"}],"version-history":[{"count":0,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/9664\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media\/9524"}],"wp:attachment":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media?parent=9664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/categories?post=9664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/tags?post=9664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}