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September 12, 2022

Frasers Group reportedly eyeing Gieves & Hawkes takeover

Mike Ashley’s Frasers Group has reportedly tabled a bid for Saville Row tailor Gieves & Hawkes.

By Hannah Abdulla

According to a Sky News report citing retail industry sources, Frasers Group is among a handful of bidders vying for control of Savile Row tailor Gieves & Hawkes after it’s Hong-Kong based owner collapsed into liquidation.

Trinity Group, the owner of Gieves & Hawkes appointed liquidators FTI Consulting and R&H Services Limited to assess the financial position and possible restructuring of the group in January.

Trinity Group which also owns the Kent & Curwen brand is owned by Chinese textile giant Shandong Ruyi Technology Group which took a majority stake in 2017.

Frasers Group which has been on an aggressive acquisition spree in recent years did not comment on the talks with Gieves & Hawkes.

Last month, Frasers Group tabled an offer to acquire Australia-based fashion marketplace MySale, two months after taking a 28.7% stake in the business.

In June, it upped its investment in Hugo Boss, and now owns a 26% stake in the brand

While in July, it added its first fast-fashion pureplay to its roster by acquiring Missguided in a GBP20m (US$25.2m) deal.  

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