The British retail group Frasers Group Plc has pushed ahead with its plans, announced in December, to take over numerous fashion brands from competitor JD Sports Fashion Plc.
The parent company of retail chains such as Sports Direct, House of Fraser and Flannels announced on Wednesday that the acquisition of the labels Cricket, Tessuti, Scotts, Giulio and Choice had now been completed. Before the turn of the year, Frasers had already acquired eight brands from JD Sports’ premium fashion segment as part of the agreement, including men’s shoe retailer Nicholas Deakins.
However, the Frasers Group also announced a change of heart: The acquisition of the clothing supplier Rascal Clothing, which was part of the original 15-brand acquisition portfolio, will “no longer be pursued”, the group said. Reasons for the decision were not given. According to the group, work is currently still being done on the acquisition of the last remaining brand, Topgrade Sportswear, which also includes the online platform Get the Label.