Mike Ashley’s Frasers Group bids for Savile Row royal tailor Gieves & Hawkes
Mike Ashley’s Frasers Group is reportedly bidding for Savile Row bespoke tailor Gieves & Hawkes, which has dressed the likes of newly crowned King Charles III and his son William, the new Prince of Wales, following the passing of Queen Elizabeth II.
According to Sky News, Frasers Group is “among a handful of bidders” for Gieves & Hawkes, which celebrated its 250th anniversary in 2021.
It has also been reported that Frasers Group is set to return to the London Stock Exchange’s FTSE 100, following its exit from the index six years ago, taking up the position vacated by Meggitt.
Since its exit from the FTSE 100 in 2016 after its share price dropped, Frasers Group has strengthened its portfolio with the acquisition of brands including House of Fraser, I Saw It First and Missguided.
Gieves & Hawkes has held royal warrants for the late Her Majesty Queen Elizabeth II, as well as King Charles III and the Duke of Edinburgh, and has dressed some of the most important political and military figures in history, including Sir Winston Churchill and Admiral Lord Nelson.
Originally two separate tailoring houses, Gieves, which was established in 1785, acquired Hawkes – founded in 1771 – in 1974, when the company was renamed Gieves & Hawkes, residing at the prestigious No. 1 Savile Row, the premises which Hawkes originally purchased in 1913.
The Gieves & Hawkes business has been owned by Hong Kong conglomerate Trinity Group since 2012, which in turn was purchased by 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.
Aside from Frasers Group, the identity of the other bidders for Gieves & Hawkes is, as yet, unclear.