Frasers Group acquires ISAWITFIRST
Mike Ashley’s Frasers Group has announced the acquisition of online fast fashion brand ISAWITFIRST for an undisclosed sum.
The retail giant, which owns Sports Direct, Flannels and House of Fraser, said that ISAWITFIRST will benefit from the strength and scale of Frasers Group's platform.
In a statement, Frasers Group said: "Frasers looks forward to integrating ISAWITFIRST, which today has over five million consumers, having rapidly grown its digital presence since its launch."
ISAWITFIRST was founded in 2017 by Jalal Kamani, the brother of Boohoo Co-founder Mahmud Kamani.
For its annual results ending 3 October 2021, the brand reported a 30% increase in revenue. However, despite an increase in sales, ISAWITFIRST reported a loss after tax of £7.8 million, compared to £7.5 million loss in the previous year.
The acquisition of I Saw It First comes after Frasers Group bought Missguided out of administration in June 2022 for £20 million. Following the acquisition, Missguided's founder Nitin Passi returned to the brand as CEO.
