Frasers Group acquires Savile Row menswear business Gieves & Hawkes
Frasers Group
589.50p
17:15 07/01/25
-2.32%
-14.00p
Retail giant Frasers Group has acquired Savile Row menswear company Gieves & Hawkes as part of an effort to secure "a long-term future" for the brand.
FTSE 100
8,245.28
17:14 07/01/25
n/a
n/a
FTSE 350
4,537.45
17:14 07/01/25
n/a
n/a
FTSE All-Share
4,493.46
16:44 07/01/25
n/a
n/a
General Retailers
4,611.96
17:14 07/01/25
-0.53%
-24.56
Mike Ashley's Frasers Group snapped up the 250-year-old Gieves & Hawkes brand and five UK stores on Friday for an undisclosed sum, a move it said further added to its portfolio of "strategic investments in luxury and premium brands".
The acquisition comes as Frasers continues to expand - most recently adding fast fashion online firm Missguided and I Saw It First to its portfolio.
Gieves & Hawkes was put on the market after its Hong Kong-based owner was put into administration in December 2021.
As of 1130 GMT, Frasers shares were up 1.36% at 889.98p.
Reporting by Iain Gilbert at Sharecast.com