Frasers Group has announced its acquisition of Coggles, a luxury retail platform, from THG, signalling a new multi-year partnership.
- The strategic partnership aims to enhance retail operations through the integration of Frasers Plus into THG’s Ingenuity platform.
- Frasers Group plans to leverage THG’s courier services to boost its Australian logistics and international expansion efforts.
- THG reports ongoing revenue growth, thanks to its beauty and nutrition sectors, and its luxury division remains steady.
- Leaders of both companies express optimism about the mutually beneficial partnership and future innovations.
Frasers Group has confirmed the acquisition of the luxury platform Coggles from THG. This development marks the beginning of an ambitious multi-year partnership between the two businesses, aiming to improve retail operations on both sides.
The key aspect of this partnership is the integration of Frasers Plus, a consumer credit and loyalty programme, into THG’s Ingenuity platform. This integration will benefit customers across various THG retail sites, enhancing their shopping experience.
Additionally, Frasers Group plans to take advantage of THG’s courier management services. This strategic move is expected to enhance the efficiency and performance of Frasers’ Australian fulfilment and logistics operations, supporting their broader international expansion goals.
Reports suggest that THG has been experiencing continued growth in its second quarter of the financial year 2024, driven by positive trends in its beauty, nutrition, and external Ingenuity businesses. Despite challenges like foreign exchange fluctuations in Asia, THG remains on track to meet its financial year guidance.
Michael Murray, CEO of Frasers Group, expressed enthusiasm about the partnership, highlighting the potential of spreading Frasers Plus to other third-party platforms. Concurrently, Matthew Moulding, CEO of THG, celebrated the collaboration, particularly for its positive impact on their retail sites and luxury brand portfolio.
Moulding also acknowledged the significant growth of THG’s luxury division, which achieved sales of approximately £43 million during the 2023 financial year, thanks in large part to the efforts of their dedicated team.
This strategic alliance between Frasers Group and THG is set to foster growth and innovation for both companies.
