Frasers Group purchases Savile Row tailor Gieves & Hawkes
Frasers Group has confirmed the acquisition of Savile Row tailor Gieves & Hawkes, taking over one of the UK’s oldest tailors.
Michael Murray, Chief Executive of Frasers Group, commented: “We are delighted to have acquired Gieves & Hawkes, securing a long-term future for an iconic 250-year-old brand. This acquisition further adds to our portfolio of strategic investments in luxury and premium brands.”
The historic tailoring business, which was established 250 years ago, is based at No 1 Savile Row and has a Royal Warrant for HM The King and has dressed some of the most important characters in British history including Sir Winston Churchill and Admiral Lord Nelson.
However it has endured a tumultuous few years due to the travails of its Asian owner. The Gieves & Hawkes business has been owned by Hong Kong conglomerate Trinity Group since 2012, which in turn was purchased by Chinese group Shandong Ruyi in 2017.
However, Trinity Group was put into liquidation in January 2022 after attempts to find a buyer for the historic Savile Row brand failed. FTI Consulting and R&H Services were appointed as joint liquidators. Prior to that, it was owned by a subsidiary of Hong Kong-based Wing Tai Properties.
This news follows retail billionaire Mike Ashley's departure from Frasers Group after 40 years. Ashley stepped down from the board earlier this year but remains the controlling shareholder.