Frasers Group is in advanced discussions to take over Coggles from The Hut Group (THG).
- The potential acquisition could be confirmed shortly, marking Frasers Group’s continuing expansion.
- Coggles, founded in 1974, transitioned to THG’s ownership in 2013 during an administrative buyout.
- In recent strategic shifts, THG has been divesting non-core assets to prioritise key business areas.
- Frasers Group’s recent acquisitions align with its strategy of leveraging intellectual property and luxury brand growth.
Frasers Group is currently engaged in advanced dialogues regarding the acquisition of the online luxury platform Coggles from The Hut Group (THG). Reliable sources suggest that the agreement might be finalised within the next few days.
This potential acquisition forms part of Frasers Group’s ongoing strategy to expand its luxury retail portfolio. Coggles, originally established in 1974 as a boutique in York by Victoria Bage, became part of THG in 2013 following a buyout after it entered administration. Currently, the platform offers over 200 designer brands such as Balenciaga, Bottega Veneta, Ganni, Gucci, Max Mara, and Paul Smith.
The move comes as THG is refocusing its business by divesting non-core assets to concentrate on its core sectors, namely nutrition, beauty, digital marketing, and fulfilment businesses. In May of the previous year, THG sold ProBikeKit, a cycling gear retailer, to Frasers Group along with other units from its on-demand lifestyle segment. These transactions, valued at approximately £4 million, were part of this broader strategic adjustment.
Frasers Group’s acquisition activity has been notable, having purchased luxury retailer Matches in December for £52 million, only to put it into administration three months later and later acquire its intellectual property (IP) for an undisclosed amount in April. This pattern suggests Frasers Group’s strategic focus on acquiring and leveraging intellectual property for growth.
Neither Frasers Group nor THG has commented on the current acquisition discussions, leaving the industry to speculate on the potential outcome and its impacts on the luxury retail landscape.
The acquisition of Coggles by Frasers Group could significantly influence its position within the luxury retail market.
