Frasers Group is nearing the acquisition of online luxury platform Coggles from The Hut Group (THG), signalling a strategic move in the e-commerce fashion sector.
- The potential acquisition comes as Frasers Group seeks to strengthen its portfolio by adding Coggles’ extensive range of over 200 men’s and women’s designer brands.
- Founded in 1974, Coggles has a rich history as a renowned independent boutique, expanding significantly under THG’s ownership since 2013.
- The transaction aligns with THG’s strategy to divest non-core assets, focusing on its primary businesses in nutrition, beauty, and digital marketing.
- Despite declining comments from both parties, industry insiders anticipate an imminent announcement regarding the acquisition.
Frasers Group is understood to be in advanced talks to purchase the luxury fashion platform Coggles from The Hut Group (THG). This strategic manoeuvre underscores Frasers Group’s ambition to broaden its influence within the high-end online retail market. The acquisition is poised to enhance its portfolio by integrating Coggles, renowned for its wide selection of designer brands.
Originally established in York by Victoria Bage in 1974, Coggles began as an independent boutique, quickly earning a reputation for its curated fashion offerings. Since its acquisition by THG in 2013, Coggles has expanded its online presence significantly, stocking over 200 leading men’s and women’s designer brands including Balenciaga, Gucci, and Max Mara.
This potential acquisition coincides with THG’s strategic focus on divesting non-essential segments of its business. In recent times, THG has aimed to concentrate efforts on its nutrition, beauty, and digital marketing sectors. As a part of this strategy, THG has been active in selling off non-core assets.
Frasers Group’s interest in Coggles follows its previous acquisition of luxury fashion retailer Matches in December, although this was followed by a controversial administration and subsequent acquisition of its intellectual property. This pattern of strategic acquisitions reflects Frasers Group’s dynamic approach to strengthening its footing in the luxury retail domain.
Despite declining to comment on the matter, sources within the industry suggest that both THG and Frasers Group are nearing a conclusive agreement, with expectations of a formal announcement in the coming days.
The anticipated acquisition of Coggles by Frasers Group represents a significant development in the luxury online retail landscape.
