Frasers Group reportedly considering I Saw It First bid
Frasers Group is reportedly considering buying Manchester-based fast fashion etailer I Saw It First.
According to The Telegraph, the group, which owns the likes of Sports Direct, Jack Wills, Flannels and House of Fraser, could be adding the e-commerce brand to its growing portfolio over the coming weeks.
However, the publication’s sources said the deal could still fail to go ahead.
Kamani launched I Saw It First in 2017 after helping his brother Mahmud found Boohoo in 2006. Kamani was previously trading director at Boohoo and helped grow it into a global fashion empire before he left and set up ISawItFirst.
As direct competitors, Boohoo and Frasers Group have previously battled over struggling retailers, the most recent being online fashion site Missguided.
Despite reports that Boohoo was making a move, Frasers acquired the struggling retailer at the start of June after it collapsed into administration.
Since the acquisition, former Missguided CEO and founder Nitin Passi returned to the helm of the brand, stating at the time that he was “committed to rebuilding [its shareholder’s] trust”.