Frasers Group to spend £600m on new Warwickshire campus
Shirebrook-based Frasers Group is set to invest £600m in its new Coventry site, the company has said.
The news comes less than a month after the Derbyshire company swooped to buy the Coventry Building Society Arena out of administration.
In September, Frasers announced it was creating a “world class” headquarters in Ansty Warwickshire in a move that cast doubt on the future of its huge Derbyshire site.
Now, Frasers has said it will spend £600m on a new distribution centre and offices in Coventry over the next ten years, subject to planning permission.
At the same time, CEO Michael Murray has said that Frasers remains “committed” to the Shirebrook site.
Yesterday (December 8), the retail group saw its surplus figure before tax rise by 53% to £284.6m for the period, while revenue was also up by 12.7% to almost £2.64bn on the back of a succession of acquisitions, including homeware platform Amara.
The firm has also acquired online fashion brands Missguided and I Saw it First earlier in the year, and it has been snapping up shares in the Australian ecommerce platform MySale ahead of a potential takeover deal for several months.
In October, Frasers strategically increased its stake in global fashion giant Hugo Boss.
Last month, we revealed that Flannels, which has been part of Frasers Group since 2017, has submitted plans for a new shop front at 11-13 Lister Gate in Nottingham.
