Frasers Group, under the leadership of CEO Michael Murray, has acquired the renowned upscale tailor Gieves & Hawkes. This purchase is consistent with Frasers Group’s reputation for buying struggling brands and restoring them to vitality. The financial details of the acquisition have not been disclosed.

As one of London’s oldest bespoke tailors, Gieves & Hawkes will join Frasers Group’s extensive portfolio of brands, which includes both high-end and mass-market retailers such as Sports Direct, House of Fraser, and Flannels. Frasers Group also holds significant stakes in luxury businesses like Mulberry and Hugo Boss.

Gieves & Hawkes has been facing financial challenges and currently operates five stores in the UK, including its flagship location on Savile Row, renowned as the hub of luxury bespoke tailoring. The other stores are situated in Bath, Birmingham, Chester, and Winchester. It is expected that these stores will be included in the acquisition.

Frasers Group sees immense value in acquiring Gieves & Hawkes, considering it an iconic brand with a rich legacy spanning 250 years. CEO Michael Murray has emphasized that this acquisition expands their growing portfolio of strategic investments in luxury and premium brands.

The availability of Gieves & Hawkes on the market arose from the collapse of its Hong Kong-based owner, Trinity, which entered administration a year ago. The brand is well-known for its impeccable made-to-measure tailoring, which has attracted royalty and notable figures throughout history. Additionally, Gieves & Hawkes offers a range of luxury ready-to-wear products, including suits and shirts.

Frasers Group has an opportunity to leverage its existing luxury retail outlets, such as Flannels and its department stores, to showcase and sell Gieves & Hawkes products. It remains to be seen whether Frasers Group will maintain the brand’s ultra-luxury image or introduce a more hybrid experience with slightly lower price points, similar to that found at Hackett.

In conclusion, the acquisition of Gieves & Hawkes aligns seamlessly with Frasers Group’s strategy of acquiring struggling brands and revitalizing them. With their extensive retail presence and expertise, Frasers Group aims to secure a prosperous future for Gieves & Hawkes, further reinforcing their position in the luxury and premium market.

Links:

1) Gieves & Hawkes Official Website
2) Frasers Group Official Website