Frasers Group buys Saville Row tailor Gieves & Hawkes

Another day, another acquisition by Frasers Group. This time, the British retail giant has bought iconic Saville Row tailor Gieves & Hawkes for an undisclosed sum.

“We are delighted to have acquired Gieves & Hawkes, securing a long term future for an iconic 250 year old brand,” Frasers Group CEO Michael Murray said in a statement.

“This acquisition further adds to our portfolio of strategic investments in luxury and premium brands,” he said.

It concludes months of speculation over who would buy the London menswear retailer, whose parent company, Chinese fashion group Trinity Limited, fell into administration late last year.

Marks & Spencer, which has been bolstering its third-party brand offering in recent years, was also at one point considered to be a potential buyer.

But Frasers Group confirmed Friday it swooped in to snap up the company, adding another name to the long and fast growing list of embattled companies the group has taken over in recent years as it expands its high street empire.

Gieves & Hawkes, which used to be two separate companies, dates back to 1771 when the Hawkes business was founded. The bespoke tailor has dressed royalty and politicians alike, including The Duke of Wellington and Churchill.

Acquisition spree

Acquisition-hungry Frasers Group has bought many embattled businesses in recent years, which had been hit hard by the pandemic.

This year alone, the group has bought fast fashion rivals I Saw It First and Missguided, British value retailer Studio Retail, and Australian sneaker and streetwear retailer Sneakerboy.

It is also inching ever closer to a takeover of Australian retailer Mysale Group, a move it said would simultaneously allow it to expand the group’s presence in Australasia, and provide a way to clear end of line products via MySale's established clearance channel.

Frasers Group has also snapped up stakes in a number of fashion companies in the past year, including Mulberry, Hugo Boss, Asos, and N Brown.