Frasers Group acquires Savile Row tailors
Mike Ashley’s Frasers Group has announced its acquisition of Savile Row tailors Gieves & Hawkes.
“Welcome to the Group @gieveslondon”, Frasers posted on Instagram.
All five of Gieves and Hawkes’s UK stores will be part of the deal, including its flagship shop at Number 1 Savile Row.
The tailors was put up for sale earlier this year after its Hong Kong-based owner collapsed into liquidation.
Gieves and Hawkes was formed under its current name in 1974, but the origins of its tailoring labels go back to the late-eighteenth century.
Gieves and Hawkes has held royal warrants for the late Queen Elizabeth II, King Charles III and the Duke of Edinburgh. It has also dressed some of the most important figures in British History, including Sir Winston Churchill and Lord Nelson.
Savile Row, synonymous with high-quality menswear, has seen a reduced customer base since the pandemic as working habits have changed and the need for bespoke suits has fallen.
Frasers – formerly known as Sports Direct International – has in recent years acquired a number of High Street brands, including Jack Wills, Evans Cycles and Agent Provocateur.
It bought online fashion retailer Missguided for £20m in June, and more recently looked to purchase Made.com, which was bought by Next after collapsing.
It is also nearing its takeover of Australian retailer MySale.
