Retail giant Frasers Group has acquired Savile Row menswear company Gieves & Hawkes as part of an effort to secure “a long-term future” for the brand.
Mike Ashley’s Frasers Group snapped up the 250-year-old Gieves & Hawkes brand and five UK stores on Friday for an undisclosed sum, a move it said further added to its portfolio of “strategic investments in luxury and premium brands”.
The acquisition comes as Frasers continues to expand – most recently adding fast fashion online firm Missguided and I Saw It First to its portfolio.
Gieves & Hawkes was put on the market after its Hong Kong-based owner was put into administration in December 2021.
As of 1130 GMT, Frasers shares were up 1.36% at 889.98p.
Reporting by Iain Gilbert at Sharecast.com
