With more and more UK fashion store closures hitting the headlines, it’s refreshing news that Frasers Group’s luxury banner Flannels is continuing to open new stores as part of a major investment plan.
Frasers was hurt by lockdowns at the end of its latest financial year but said its results had been on target prior to this. And the company's elevation strategy is continuing with a new focus on web elevation too.
Frasers’ execs may have been talking about potential store closures in recent periods, but the firm is also planning openings and has announced its first regional store since the pandemic began at Leicester's Fosse Park.
Mike Ashley’s Frasers Group, formerly Sports Direct, said it would reassess the viability of some of its stores following a British government decision to delay the next business rates valuation until 2023.
Mike Ashley's Frasers Group, formerly Sports Direct, has taken a 5.1% stake in German label Hugo Boss through stocks and derivatives, continuing his drive to take the British sportswear and apparel retailer upmarket.