Connect with us

Hi, what are you looking for?

Finance

Frasers finally gains a cut above the rest with Gieves & Hawkes purchase

Michael Murray’s attempt to “elevate” the Frasers Group brand has stepped up a gear after the Sports Direct owner confirmed it had bought Gieves & Hawkes.

The Savile Row tailor, which has dressed royalty as well as Lord Nelson, Winston Churchill and Noël Coward, was put up for sale this year after its Chinese owner was placed into liquidation.

Frasers’ interest in the 250-year-old tailor emerged in September. Murray, who has taken over day-to-day running of the retail group from Mike Ashley, his father-in-law, aims to reposition Frasers as a more upmarket business.

Murray, 33, said: “This acquisition adds to our portfolio of strategic investments in luxury and premium brands.” It is understood all five Gieves & Hawkes stores will be part of the deal, including its best-known location at No 1 Savile Row in central London. Its other stores are in Bath, Birmingham, Chester and Winchester.

Gieves & Hawkes dates to 1771, when Thomas Hawkes opened his first shop in Brewer Street selling military outfits to military and naval commanders.

Last November a winding-up petition was issued against Gieves & Hawkes and its sister brands Cerruti and Kent & Curwen in a court in Hong Kong after its owner Trinity Limited defaulted on a loan.

Frasers has a record of buying distressed businesses. In June it bought Missguided’s brand out of administration for £20 million.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Finance

Students at any level in their college life find the use of assignment writing services for professional assignment help important. Daily, students in...

Stock Markets

YORDENIS Ugas celebrates with his team after defeating Manny Pacquiao in a world welterweight championship bout at T-Mobile Arena. — REUTERS By Michael Angelo...

Stock Markets

A common occurrence, catching a cold can happen anywhere at any time. And in this new normal, sensing the chances or risks of getting...

Stock Markets

SM Foundation, in partnership with TESDA, DOLE, DSWD, SM Supermalls, and SM Markets, launched the first ever National Certificate (NCII) training program for Customer...

Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Captain Of Success. All Rights Reserved.