<\/p>\n
\n\tLONDON \u2014 Frasers Group is doubling down on luxury, increasing its stake in Burberry and setting up a special division for the high-end companies in its portfolio.<\/p>\n
\n\tOn Monday, the group disclosed in a stock market filing that it has raised its stake in Burberry to 6.32 percent from 4.16 percent. Frasers has also included Burberry in the list of brands that sit within its new luxury \u201cecosystem,\u201d known as Frasers Group Luxury.<\/p>\n
\n\tIt described Frasers Group Luxury as a portfolio of \u201cdistinctive luxury businesses, digital capabilities, and investments with longstanding strategic brand partners at its core.\u201d The group touted its decade-plus of experience in the luxury sector, and \u201ctrusted\u201d relationships with strategic brand partners.<\/p>\n
\n\tThe new division, it said, \u201ccombines the expertise and reach of Frasers Group with the commercial discipline that underpins the wider business.\u201d The division includes retailers Flannels and Harvey Nichols in the U.K. and The Webster in the U.S. Frasers also listed its strategic investments in Mulberry, Burberry, Hugo Boss and Hulcan\u2019s Mile as part of the new division.<\/p>\n
\t\t\t\t\tMichael Murray<\/p>\n
\t\t\t\t\t\t\t\t\tCourtesy of Frasers Group, Louis Bamford Dink<\/p>\n
\n\tFrasers Group Luxury, the company added, \u201cis designed to support brand partners at every stage of their growth, unlocking opportunities, reaching new audiences, entering new markets and creating lasting long-term value.\u201d<\/p>\n
\n\tMichael Murray, Frasers Group CEO, said, \u201cLuxury has been a core pillar of Frasers Group for more than a decade,\u201d generating more than 1 billion pounds in annual sales, and generating a profit.<\/p>\n
\n\tMurray added: \u201cWith over 100 stores across the U.K. and U.S., we\u2019ve built the expertise, scale and brand relationships to support our next phase of growth. Our ambition is clear: to continue scaling Frasers Group Luxury globally through organic expansion, acquisitions and strategic investments, creating long-term value for our brand partners, customers and the group.\u201d<\/p>\n
\n\tFrasers Group is hosting a launch event for the new division at the H\u00f4tel de Crillon on Monday night during Paris Fashion Week. <\/p>\n
\n\tLaure Heriard Dubreuil, founder of The Webster, said Frasers has fully supported the retailer since taking a majority stake last year. In November, she added, The Webster will reveal a newly renovated store as part of the Bal Harbour Shops West expansion. It also plans to revamp its South Beach flagship on Collins Avenue.<\/p>\n
\t\t\t\t\tThe Webster\u2019s original location in South Beach in Miami.<\/p>\n
\t\t\t\t\t\t\t\t\tCourtesy of The Webster<\/p>\n
\n\tAlexis Mourot, CEO of Christian Louboutin, said the company has built \u201ca strong partnership\u201d with Frasers Group over the years, \u201cbased on trust, open dialogue and a shared ambition to grow our business together. We therefore look forward to this new chapter and to continuing to grow our partnership together.\u201d<\/p>\n
\n\tBurberry CEO Joshua Schulman said the company values Flannels \u201cas a long-standing wholesale partner. Their teams have a deep understanding of their customers, and their store network helps us reach Burberry customers across the U.K., particularly in areas where we do not have directly operated stores.\u201d<\/p>\n
\n\tFrasers Group is also the owner of Sports Direct, Evans Cycles and Gieves & Hawkes on Savile Row.<\/p>\n
\n\tIts founder and dealmaker-in-chief is the retail tycoon Mike Ashley, who is known for buying struggling companies on the cheap, or straight out of administration, and also taking strategic stakes in the brands that supply the group.<\/p>\n
\n\tOver the summer Ashley pounced on Hugo Boss, launching a takeover bid that ultimately failed, but still netted the group a nearly 50 percent stake in the German company. Following the bid, Frasers ejected Stephan Sturm, chairman of the Boss supervisory board, and replaced him with Murray, who is Ashley\u2019s son-in-law.<\/p>\n
\t\t\t\t\tMike Ashley<\/p>\n
\t\t\t\t\t\t\t\t\tCarl Court via Getty Images<\/p>\n
\n\tThe failed bid whetted Ashley\u2019s appetite for more, and Frasers said earlier this month that it planned to acquire further shares in Hugo Boss with the aim of gaining full control.<\/p>\n
\n\tIn late 2023 Frasers purchased the fashion retailer Matches in a fire sale, and a few months later shut it down, saying it was too expensive to fix. Frasers later sold the Matches brand and its in-house collection, Raey, to Hulcan Mile, a digital retail group. It is set to be relaunched later this year.<\/p>\n
#Frasers #Raises #Burberry #Stake #Forms #Luxury #Division<\/p>\n","protected":false},"excerpt":{"rendered":"
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