Another day, another Frasers Group acquisition. This time, the British retail giant has bought iconic Saville Row tailoring house Gieves & Hawkes for an undisclosed sum.
“We are delighted to have acquired Gieves & Hawkes, securing the long-term future of an iconic 250-year-old brand,” said Michael Murray, CEO of Frasers Group. “This acquisition complements our portfolio of strategic investments in luxury and premium brands.”
This ends months of speculation about the buyer of the London men’s outfitter, whose parent company, the Chinese fashion group Trinity Limited, was placed under insolvency administration at the end of last year.
Marks & Spencer, which has expanded its range of third-party brands in recent years, was also considered a potential buyer at one point.
The Frasers Group confirmed on Friday that it has acquired the company, adding another name to the long and fast-growing list of ailing companies the group has taken over in recent years as it expands its high street empire.
Formerly two separate companies, Gieves & Hawkes dates back to the founding of the Hawkes company in 1771. Bespoke tailoring has dressed royalty and politicians alike, including the Duke of Wellington and Churchill.
wave of takeovers
The acquisition-loving Frasers Group has bought up many struggling companies that have been hit hard by the pandemic in recent years.
This year alone, the group has bought fast fashion competitors I Saw It First and Missguided, UK retailer Studio Retail and Australian sneaker and streetwear retailer Sneakerboy.
The acquisition of Australian retailer Mysale Group is also fast approaching, a move that the group says would allow it to expand its presence in Australasia and to discontinue products through its well-established MySale channel.
The Frasers Group has also bought stakes in a number of fashion companies over the past year, including Mulberry, Hugo Boss, Asos and N Brown.
This translated and edited post previously appeared on FashionUnited.uk.