Frasers completes swoop for iconic Savile Row tailor
Shirebrook-based Frasers Group has acquired troubled Savile Row tailor Gieves & Hawkes.
A fortnight ago it was reported that Frasers was in “advanced talks” to buy the company, which has been up for sale since its Hong Kong-based owner collapsed earlier this year.
The deal has now been completed, with Frasers snapping up the Gieves & Hawkes brand and five of its stores, including its outlet at 1 Savile Row.
Gieves & Hawkes can trace its history back to 1771, with its current company make-up formed in 1974. The firm has held Royal Warrants for the late Queen Elizabeth II, the King and the Duke of Edinburgh.
Frasers has been in a bullish mood in recent months. It has been pursuing Australian fashion marketplace MySale for most of the year, snapping up shares at frequent intervals.
In the summer, the group followed the acquisition of online fashion brand Missguided with a similar swoop for I Saw it First, before saving around 1,000 jobs earlier this month when it agreed to buy the Coventry Building Society Arena.
Frasers CEO Michael Murray said he was “delighted” to have secured “a long-term future for an iconic 250-year-old brand.”