UK: Sports Direct founder takes stake in House of Fraser
A spokesperson for House of Fraser confirmed the transaction today (8 April) but declined to give further details on the deal. An announcement is expected later today.
According to Reuters, Ashley, who holds a 62% share in the sporting goods retailer, bought the stake from Scottish tycoon Tom Hunter.
The agreement comes days after reports emerged that Chinese conglomerate Sanpower is preparing to take an 89% stake in the department store retailer. A surprise bid by the firm last week is understood to value House of Fraser at more than GBP450m (US$749.2m).
The two companies are said to have been in secret talks for several months.
What key strengths and strategies are helping retailers to take the lead? Building fully integrated and flexible supply chains, with an end-to-end focus on ethics and responsibility will help to separ...
Sports Direct International Plc. has been one of the successes in UK high street retail over the last 10 years. The sports apparel and equipment retailer has grown rapidly, hastening the demise of for...
One of the biggest challenges - and opportunities - facing the apparel industry in 2015 is how best to embrace the omni-channel retail model, improve the shopping experience, and respond with new supp...
Introduction Footwear in the United Kingdom industry profile provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018).......
Introduction Footwear in Belgium industry profile provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018). The profil......
This report provides information, analysis and valuable insight on developments relating to the performance apparel industry in the following categories: acquisitions, divestments and mergers; corpora...
- When will Gap get back on track?
- Software solutions enhance speed and visibility
- Portugal footwear makers underpin industry growth
- Bangladesh factory safety progressing slowly
- Supply chain weighs on Kering's green footprint
- Q1 apparel results in brief: Brown Shoe Co, Belk
- China to reduce apparel import taxes
- Indonesian textile sector sees 6,000 lay-offs
- Vietnam garment staff return after faintings
- New black dye meets sustainability standards