When retail mogul Mike Ashley added House of Fraser to his portfolio in 2018, he spoke about converting the chain into the “Harrods of the high street”. And two years later, his vision is starting to take shape.
Sports Direct had mixed news on Monday with acquisitions boosting sales but plenty of negative numbers when bought-in business are factored out. But HoF is showing 'green shoots' and Flannels is improving.
Retail billionaire Mike Ashley, the founder of Sports Direct, has demanded new rent deals are tied to sales across his store empire that now includes HoF and Jack Wills as well as Sports Direct and Flannels.
Sports Direct's latest acquisition is a retail park in Hertfordshire that it bought for a third of the price paid by its previous owners. The company said it's planning to transform it into an aspirational destination.
To coincide with its recent arrival on the Oxford Street fashion scene, luxury retailer Flannels has partnered with 10 international designer labels and will be dropping exclusive styles over the coming weeks.