Retail deal

Frasers acquires THG’s luxury goods websites

House of Fraser Glasgow
Frasers is expanding its luxury goods offering (pic: Terry Murden / DB Media Services)

Frasers Group is acquiring THG’s luxury brands portfolio as part of a new e-commerce and delivery partnership.

It will see the integration of customer credit and loyalty proposition, Frasers Plus, into Manchester-based THG’s Ingenuity platform. It marks the first Frasers Plus partnership with an external partner.

Mike Ashley’s Frasers Group, owner of Sports Direct and Evans bicycle retail chain, also expects to benefit from THG’s courier management services by supporting its international expansion.

A key part of the deal sees Frasers acquire THG’s luxury brand portfolio including Coggles, thereby strengthening its Premium and Luxury portfolio, alongside Flannels.

THG, whose backers include Scottish businessman Sir Tom Hunter, said its luxury division made about £43 million in sales last year and was broadly break-even despite the tough luxury market.

Michael Murray, CEO at Frasers, said: “This is an exciting step towards our Frasers Plus ambitions as we look to expand its offering across additional third-party platforms. We are looking forward to working with the THG team and unlocking further benefits for both businesses.”

Matthew Moulding, CEO at THG, said the partnership is across a broad range of initiatives, in particular bringing Frasers Plus to consumers shopping with Ingenuity clients, as well as to its own retail sites including Lookfantastic, Cult Beauty and Myprotein.

“Our luxury brand portfolio including Coggles has grown from a standing start eleven years ago, and we are eager to watch it develop further as an Ingenuity client. The success of Coggles has only been possible through the hard work and dedication of THG’s luxury team, to whom we all want to extend our thanks and gratitude.”

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