Fraser continues shopping. The British fashion distribution group, as part of a strategic expansion plan, has bought The Mall shopping center in Luton (UK), where other companies such as Primark or H&M operate. The objective of the new acquisition is to be able to capture growth opportunity for the brands managed by the group, as collected Curtains.
The shopping center covers an area of 8,361 square metres, and the acquisition value is £58 million (€66 million).
In recent months, the British conglomerate has carried out a host of purchases and added brands such as Topgrade Sportswear or Philip Browne to its portfolio, all previously owned by JD Sports. Frasers signed an agreement with JD sports in December 2022 to acquire its brands beloved Such as Cricket, Tessuti, Scotts, Giuliu and Choice.
JD Sports, which owned the seven brands at the beginning of the year, has sold them to Frasers, as part of the strategy of the new CEO, Régis Schultz, who Aiming to reduce investment in British company fashion. Frasers, for its part, is framed in Elevation’s strategic plan for the group’s turnover to double by 2025.
Fraser has acquired an 8,361 square meter shopping center in the UK
Besides new acquisitions, Fraser’s company has invested in recent months In companies with pure players See it first and MySale or Hugo Boss or Missguided. In addition, the company reorganized its portfolio by selling companies such as Bob’s Stores and Eastern Mountain Sports.
The British company has been led since last June by Michael Murray and since his appointment, Fraser has undergone a deep restructuring Through new hires in the management team and other strategic moves. Currently, the company is adjusting its purchasing model to a more “selective” one, the company explained at the time.
According to the latest data, the British group closed the first half of the 2022 financial year (until October 23) Her income increased by 12.7%.Its sales amounted to 2,638 million pounds (3,059 million euros). The company’s profits increased by 50%, reaching 193.3 million pounds (224.2 million euros).
At the end of the first semester, the Fraser Group store network was 1,596 facilities, compared to the 1,561 facilities it was operating with on October 24, 2021.
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