Sports Direct owner Frasers Group has acquired Thackerays, an independent retailer in Northampton.
- Thackerays, established in 1972, offers premium men’s and women’s wear.
- The acquisition follows Frasers Group’s recent expansion activities in the retail sector.
- Frasers Group has faced financial turbulence, with losses reported from previous acquisitions.
- The acquisition raises questions about the future direction of Frasers Group’s retail strategy.
In a strategic move, Frasers Group, the owner of Sports Direct, has acquired Thackerays, an independent fashion retailer based in Northampton. Established in 1972, Thackerays is well-known for its premium offerings in 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 forms part of Frasers Group’s aggressive expansion strategy, which has seen the group acquire several independent retailers recently. This includes the Sunderland-based Aphrodite in April 2024, as well as John Anthony and Zee & Co in late 2023. Additionally, there were reports of Frasers Group being in talks to acquire premium e-tailer Coggles from THG, showcasing a pattern of growth through acquisition.
Despite this expansion, Frasers Group is navigating financial challenges. The company reported a significant loss from its previous acquisition of the premium fashion retailer Matches, which was acquired for £51.9 million in December 2023 and subsequently placed into administration in March 2024. This resulted in a £12.5 million loss for the retail giant.
According to financial results for the year ending April 28, 2024, Frasers Group’s revenue experienced a slight decline, with a 0.9% year-on-year dip to £5.53 billion and a 1.3% fall in retail revenue. These figures underscore the financial pressures facing the group as it pursues growth.
Frasers Group’s acquisition of Thackerays marks a continued focus on expanding its portfolio of independent retail assets. However, the current financial turbulence highlights the complexities and risks involved in such an aggressive growth strategy. The group declined to comment on the acquisition, leaving many in the industry speculating about its long-term retail strategy.
Frasers Group’s acquisition of Thackerays underscores its continued expansion in the retail sector amidst financial challenges.