Frasers Group, known for owning Sports Direct, has acquired Northampton’s independent fashion retailer, Thackerays.
- Thackerays, established in 1972, is recognised for its premium offerings in men’s and women’s fashion.
- The acquisition follows recent talks of Frasers Group buying premium etailer Coggles.
- Recent acquisitions by Frasers Group include Aphrodite, John Anthony, and Zee & Co.
- Frasers Group experienced a financial dip, reporting a £12.5m loss from a previous acquisition.
Frasers Group, the owner of Sports Direct, has made a significant move by acquiring the independent fashion retailer Thackerays, located on Wellingborough Road in Northampton. Thackerays, founded in 1972, is celebrated for its premium collection of men’s and women’s wear, featuring contemporary brands such as Anine Bing, Free People, Ganni, Paul Smith, and Norse Projects.
The acquisition of Thackerays is part of a broader strategy by Frasers Group to expand its portfolio of premium and independent retailers. This move comes in close succession to reports that the company was in discussions to acquire the premium etailer Coggles from THG.
In recent months, Frasers Group has also added several other independent retailers to its holdings. These include Sunderland-based Aphrodite, acquired in April 2024, along with John Anthony and Zee & Co, both acquired in late 2023. These strategic acquisitions highlight the group’s efforts to strengthen its position in the premium retail sector.
Frasers Group’s financial stability has been under scrutiny following the acquisition of the premium fashion retailer Matches for £51.9 million in December 2023. The acquisition was not as profitable as anticipated, leading to a £12.5 million loss when Matches was placed into administration by 8 March of the following year.
Despite these financial setbacks, Frasers Group continues to focus on growth and expansion. In the financial year up to 28 April 2024, the group’s revenue saw a slight decline of 0.9% year-on-year, amounting to £5.53 billion, with a 1.3% decrease in retail revenue. Frasers Group, however, refrained from commenting on these figures.
Frasers Group’s acquisition of Thackerays underscores its strategic intent to bolster its premium retail portfolio amidst financial challenges.
