Frasers Group, the owner of Sports Direct, has made a significant acquisition by purchasing Northampton’s independent fashion retailer Thackerays.
- Thackerays, a staple on Wellingborough Road since 1972, is known for its premium men’s and women’s wear featuring brands like Anine Bing and Paul Smith.
- This acquisition is part of Frasers Group’s recent trend of purchasing independent retailers, following deals with Aphrodite, John Anthony, and Zee & Co.
- Frasers Group also recently put Matches into administration, despite purchasing it for £51.9m in December 2023, highlighting strategic challenges.
- The company’s financial results for this year revealed a slight decline in revenue and retail performance, yet they continue expanding their portfolio.
Frasers Group, renowned as the owner of Sports Direct, has broadened its portfolio by acquiring Thackerays, a well-respected independent fashion retailer based in Northampton. This move underscores the group’s strategic intent on consolidating influence within the fashion retail sector.
Established in 1972, Thackerays has earned a reputation for offering premium clothing options on Wellingborough Road. It features an array of contemporary brands such as Anine Bing, Free People, Ganni, Paul Smith, and Norse Projects, appealing to fashion enthusiasts seeking quality and style.
The acquisition of Thackerays falls in line with Frasers Group’s notable trend of acquiring independent fashion retailers. Previously, the group successfully acquired Sunderland-based Aphrodite in April 2024, as well as John Anthony and Zee & Co in late 2023. These acquisitions signify Frasers Group’s commitment to expanding its reach in the independent retail space.
Contrasting their acquisition strategy, Frasers Group placed Matches, purchased for £51.9m in December 2023, into administration by March 2024. This decision reflects ongoing strategic challenges the group faces amidst its acquisitions, indicating a complex balancing act between buying entities and ensuring their financial stability.
Despite facing a slight 0.9% dip in year-on-year revenue to £5.53 billion, along with a 1.3% fall in retail revenue as of 28 April 2024, the group seems undeterred. By end of March 2024, they reported a significant £12.5 million loss from the Matches deal, yet remain assertive in their acquisition pursuits, continuously enhancing their fashion retail footprint.
Frasers Group’s acquisition of Thackerays further cements their strategy to expand their presence within the independent retail sector despite recent financial challenges.
