Frasers Group is redefining luxury retail with ambitious plans for Flannels.
- The acquisition of Matches, Coggles, and a Mulberry takeover attempt highlights their strategy.
- Expansion into regional markets, focusing on the local consumer, is key.
- New flagship stores and innovative partnerships keep Flannels at the forefront.
- The company remains confident in a recovering market despite current challenges.
Frasers Group has been actively reshaping the retail landscape, particularly through its strategic moves in the luxury fashion sector. By acquiring companies like Matches and Coggles and attempting a takeover of Mulberry, Frasers highlights its commitment to positioning Flannels as a market leader. The initial acquisition of Flannels began in 2012 when Frasers took a majority share, expanding it over the years into a dominant force with an extensive network of stores aiming to reach all regions of the UK.
David Epstein, the Managing Director of premium and luxury at Frasers Group, refers to Flannels as ‘the jewel in the crown.’ He stresses the brand’s transformation of luxury retail across regional areas, driven by significant investments in their boutique and flagship stores. These stores are not mere replicas but represent an evolving space that aims to challenge norms and create unique shopping experiences for the consumer.
The brand’s latest venture is the conversion of a large former Debenhams store in Leeds into a flagship outlet. This substantial 70,000 sq ft location features not only retail spaces but also spaces for fitness, dining, and beauty experiences. Such innovations include partnerships with luxury labels like Prada and Valentino, ensuring a dynamic and ever-changing environment for shoppers. The new concept of ‘living stores’ allows for constant updates and new offerings, making each visit unique.
A notable strategy of Flannels is its focus on menswear, dedicating more space within its stores to this category compared to the typical allocation for womenswear. This approach leverages its existing partnerships with streetwear and high-end brands to attract a wide array of consumers. Additionally, the inclusion of activewear from brands like On and Lululemon showcases Flannels’ understanding of its clientele’s lifestyle needs.
Targeting regional consumers, Flannels has been able to capitalize on the distinctive shopping habits found outside major cities. According to Epstein, these consumers have embraced a ‘wear your wealth’ culture, often mixing established luxury items with emerging brands. The brand’s success is underpinned by solid backing from major luxury conglomerates, affirming the potential value found in regional markets.
Despite recent challenges in the luxury sector, Frasers Group’s decision to open more stores and invest in existing ones demonstrates its commitment to growth and innovation. The Oxford Street flagship ‘Flannels X’ serves as a model to inspire similar experiences across its stores, as part of a broader strategy to balance expansion with the integration of new categories and trends.
Frasers Group continues to forge a bold path with Flannels, maintaining its status and adaptability within the ever-evolving luxury retail space.
