Frasers Group snaps up Gieves & Hawkes
Mike Ashley’s Frasers Group has confirmed the acquisition of Savile Row tailor Gieves & Hawkes.
Frasers Group, which owns Sports Direct, House of Fraser, and Flannels, snapped up the 250-year-old brand and five UK stores.
Subscribe to TRBGieves & Hawkes was put on the market after its Hong Kong-based owner was put into administration in December 2021.
Michael Murray, Chief Executive of Frasers Group, commented: “We are delighted to have acquired Gieves & Hawkes, securing a long-term future for an iconic 250-year-old brand. This acquisition further adds to our portfolio of strategic investments in luxury and premium brands.”
This is not the first time Mike Ashley’s retail empire has stepped in to take over troubled companies. Most recently, he made deals with fast-fashion online retailers, Missguided and ISawItFirst.
