Coggles’ sole brick-and-mortar store in Alderley Edge has transitioned to a Flannels location, marking a notable shift in the region’s retail landscape.
- The transition follows Frasers Group’s acquisition of Coggles earlier this year, which is part of a broader strategy to enhance its presence in the luxury retail sector.
- Concerns have been voiced over Coggles’ future as an independent entity, with Frasers Group’s increasing influence in the premium market.
- Originally founded as an independent boutique, Coggles’ history dates back to 1974 with a storied presence in designer fashion.
- Flannels’ expansion is aggressive, with recent store openings in Leeds and Milton Keynes, increasing its footprint across the UK and Ireland.
The transition of the Alderley Edge store from Coggles to Flannels signifies significant change in the local luxury retail market. This shift comes as a result of Frasers Group’s acquisition of Coggles from THG, previously known as The Hut Group, earlier this year. Frasers Group has been steadily expanding its influence and footprint in the luxury market, and this transition is a strategic move in that direction.
Frasers Group’s acquisition included not just Coggles, but also other luxury websites such as The Hut, MyBag, and Allsole. Collectively, these brands achieved sales of £43 million, reaching a break-even financial state by the end of 2023. The strategic acquisition underlines Frasers Group’s commitment to strengthening its presence in the luxury retail sector, which has been a growing market.
Industry insiders have expressed concerns regarding the future of Coggles as an independent entity. Following the acquisition, there were reports of cancelled orders for upcoming autumn/winter and spring/summer collections from THG, raising questions about possible changes in Coggles’ operations.
Coggles, originally established by Victoria Bage in 1974 as a boutique in York, was previously acquired by THG in 2013. It has been known for stocking over 200 designer brands including iconic names like Balenciaga, Gucci, and Max Mara. Despite its reputation, the physical store’s closure aligns with Flannels’ strategy to expand its UK presence.
Flannels has been aggressively expanding its store estate, already marking its presence with over 80 stores across the UK and Ireland. Recent significant openings include a 70,000 square foot flagship store in Leeds and a 20,000 square foot site in Milton Keynes. This rapid expansion is indicative of the competitive nature of the luxury retail market and Flannels’ aims to be a dominant player.
Flannels’ strategic expansion and rebranding efforts underscore a shifting landscape in the luxury retail market.
