FASHION RETAIL NEWS UK
Frasers Group acquires Psyche
5 January, 2021 | by Angela Beevers
Mike Ashley’s Frasers Group has acquired high-end fashion retailer Psyche for an undisclosed sum.
The sale includes both Psyche’s online business and stores.
Steve Cochrane, the retailer’s founder and chief executive, will continue in his role after the sale.
Cochrane said: “After 38 years as an independent fashion retailer, we have never seen such uncertainty surrounding the pandemic with local lockdowns. It is great to have the security and backing of one of the strongest UK retailers to continue employing our talented staff and serve our loyal customers.
“Merging with Frasers Group will allow us to grow and expand. It will give us economies of scale and efficiencies by being part of a large plc.”
