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Sports Direct proprietor buys historic Savile Row tailor

A Gieves And Hawkes ShopGetty Images

Sports Direct proprietor Frasers Group is shopping for Gieves & Hawkes, the historic Savile Row tailor, the BBC has realized.

The Frasers Group’s chief govt stated the move secured “a long-term future” for the 250-year-old agency.

The retail large, which was based by Mike Ashley, emerged as a possible purchaser of Gieves & Hawkes in September.

It is known all 5 of Gieves & Hawkes’s UK shops can be a part of the deal, together with the flagship location at Number 1 Savile Row in London.

The store is without doubt one of the world’s most well-known vogue addresses, with different shops situated in Bath, Birmingham, Chester and Winchester.

Gieves & Hawkes is without doubt one of the oldest bespoke tailoring corporations.

But it has confronted uncertainty ever since its Hong Kong-based proprietor collapsed into liquidation final yr.

Michael Murray, chief govt of Frasers Group, commented: “We are delighted to have acquired Gieves & Hawkes, securing a long-term future for an iconic 250-year-old brand.

“This acquisition additional provides to our portfolio of strategic investments in luxurious and premium manufacturers.”

Retail billionaire Mike Ashley has been one of the High Street’s most prominent and colourful figures since founding Sports Direct, which eventually became Frasers Group, 40 years ago.

Mr Ashley recently stepped down from the board of Frasers Group but remains the group’s controlling shareholder.

He had already handed over the running of the group to his son-in-law Mr Murray earlier this year.

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