Frasers Group news and archive

Frasers Group snaps up stake in Under Armour

UK-based Frasers Group, parent company of Sports Direct, has acquired an 8.78 percent stake in Under Armour, according to a Schedule 13G regulatory filing dated October 1. The filing shows Frasers holds 16.6 million Class A shares in the US sportswear company, giving the British retail giant a significant position as Under Armour continues to...

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Business

Frasers Group consolidates luxury portfolio across UK and US markets

UK retail conglomerate Frasers Group has announced the launch of Frasers Group Luxury, a dedicated luxury ecosystem spanning the UK and US markets. The initiative marks the next phase of the group’s luxury strategy, integrating its high-end retail businesses, digital capabilities, and portfolio investments into a unified platform aimed at...

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Hugo Boss: Frasers CEO Michael Murray is new chairman of the supervisory board

British major shareholder Frasers Group Plc has once again asserted its influence at the Metzingen-based fashion group Hugo Boss AG. On Wednesday, the clothing company announced that Michael Murray was elected as the new chairman of the supervisory board on Tuesday. His predecessor, Stephan Sturm, announced his resignation a few days ago. Murray...

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Harvey Nichols resumes e-commerce activities

Harvey Nichols has relaunched its e-commerce operations weeks after Frasers Group acquired the luxury department store and rescued it from the clutches of administration. The website has been resumed following a transaction period in which ownership over the company was transferred to Frasers. The British retail giant acquired the retailer as...

Fashion

Frasers Group commits to ending exotic animal skin sales

UK retail conglomerate Frasers Group, owner of retail chains Frasers, Flannels and Harvey Nichols, has confirmed to animal rights organisation People for the Ethical Treatment of Animals (PETA) that it will eliminate exotic animal skins across its brand network. In an email statement, the company said: “We endeavour to make sure that our own...

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ASA upholds complaint against Sports Direct over RRP claim

The UK’s Advertising Standards Authority (ASA) has upheld a complaint against Sports Direct over the use of a recommended retail price (RRP), as the retailer's parent company Frasers Group continues to challenge the regulator’s approach to price comparisons. The ruling relates to a Puma Women’s Zipped Baselayer Top advertised on the Sports...

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Hugo Boss terminates share buyback program amid Frasers Group takeover bid

German premium brand Hugo Boss will terminate its share buyback program early following announcements from UK retail company Frasers Group that it intends to build a controlling stake of more than 50 percent in the business. The managing board of the Metzingen-based fashion house resolved on September 1 to end the buyback upon the expiration of...

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Frasers aims to secure over 50 percent stake in Hugo Boss

UK retail group Frasers Group has moved closer to taking majority control of Hugo Boss after its voluntary public takeover offer boosted its direct shareholding in the German tailoring label to 47.89 percent. Following the expiry of the acceptance period for the offer, Frasers confirmed its holding now stands at 33,054,959 ordinary shares. The...

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Frasers calls on ASA to reconsider RRP approach

British retail giant Frasers Group has called on the UK’s Advertising Standards Authority (ASA) to reconsider its approach to recommended retail prices (RRPs), arguing that current guidance risks creating unnecessary barriers to price competition. In a letter dated August 28, Frasers chief financial officer Chris Wootton said the group believed...

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Retail

Harvey Nichols to close Irish store

Department store chain Harvey Nichols is set to close its Irish location after it was unable to reach an agreement to maintain trading. According to the Irish Times, Grant Thornton, joint liquidator for the insolvent Harvey Nichols Dublin, which employs 33 staff, has confirmed the outlet will shutter September 13. In a statement to the Irish...

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Frasers calls for Accent chairman to resign amid takeover battle

British retail giant Frasers Group has escalated its takeover battle with Accent Group by publicly calling for chairman Lawrence Myers to resign, accusing the Australian retailer’s board of governance failures, poor capital allocation and a lack of accountability. In an open letter published on its corporate website, Frasers chief financial...

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Retail

Frasers Group to cover fees owed to Harvey Nichols stylists

British retail giant Frasers Group has said it intends to pay personal shoppers and stylists owed money by Harvey Nichols under its former owner, with most payments expected to be made in full within 72 hours. The payments will be made on an ex gratia basis, meaning Frasers is not legally responsible for the outstanding fees following its...