Frasers Group has launched Frasers Group Luxury, which it describes as a “luxury group ecosystem”. Currently spanning the UK and US, the ambition is to expand globally.
Frasers has signalled its ambition to become a major player in the luxury sector for some time now. Having started life as a single sports retailer in Maidenhead that evolved into discount sportswear giant Sports Direct, Frasers Group’s ‘Elevation Strategy’ has been geared towards raising the group’s profile in the luxury sector, where margins are much higher and success is not dependent on volume.
Frasers Group Luxury brings together its two major British luxury acquisitions, FLANNELS and Harvey Nichols, and The Webster, a US luxury chain with a store estate in Bal Harbour, South Beach and New York.
“Tremendous excitement”
The Webster’s founder Laure Heriard Dubreuil said she had “tremendous excitement” about her company’s experience with Frasers Group so far, highlighting the newly renovated Bal Harbour store and website relaunch, with plans for further store renovations in the near future. “Michael [Murray] and I share a belief in the enduring value of physical retail, and that alignment gave us confidence in the partnership from the start,” she said.
Frasers Group also has “strategic investments in the wider luxury landscape”, including Mulberry, Burberry, HUGO BOSS and Hulcan’s Mile.
Michael Murray, Frasers Group chief executive officer, commented: “Luxury has been a core pillar of Frasers Group for more than a decade, starting with FLANNELS and growing into a profitable £1b+ luxury ecosystem in just 10 years. With over 100 stores across the UK and U.S., we’ve built the expertise, scale, and brand relationships to support our next phase of growth.
He added: “Our ambition is clear: to continue scaling Frasers Group Luxury globally through organic expansion, acquisitions, and strategic investments, creating long-term value for our brand partners, customers, and the Group.”
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