Investment in other businesses has been prevalent for the Frasers Group and this continued in the period with increased stakes taken in Hugo Boss and Mulberry, and it acquired DW Sports in August. You will have the opportunity to impact the commercial performance of our products from inception to retirement, working in each of the teams within the Commercial Division. Ashley adds: “I do not wish to comment on the wider Covid-19 picture but from a general retail perspective it is impossible to ignore the lack of clarity of guidance when it finally arrives. In its latest half-year it has opened a new 25,000 sq ft multibrand shop in Cascades Shopping Centre, Portsmouth and is investing in its Sports Direct shop on Oxford Street, London. The retailer has “invested in businesses we feel are an important strategic match to the group’s long-term plans” – and now has a stake of 37% in Mulberry, which it describes as “a truly iconic luxury British brand that we strongly believe will find its rightful home in our Flannels business”, and it also now owns 10% of Hugo Boss, as well as existing investments in French Connection and Studio Retail. That will encompass increased spending on … “Frasers Group on the other hand is a little less clear – for example, Michael Murray, Head of Elevation suggested a couple of years ago that they wanted something like 120 Flannel stores – I thought ‘what a ridiculous idea, they should be aiming for 20 stores not 120’. Frasers says that its strategy of investing in department stores, single brand stores and the brands that sell within them has strengthened its relationships with third-party brands including Nike in branches of Sports Direct, Burberry at Flannels and Hugo Boss for House of Fraser. The stronger trading means Frasers Group has upgraded the bottom end of full year guidance. It is a graduate programme like no other, and this is a competition like no other. ... "A key strategic priority for Frasers Group is the elevation … The Frasers Group Elevation Programme will fast-track exceptional individuals to peak performance within two years. The new 51,000 sq. Frasers Group are on an ambitious elevation strategy and will be using Enactor to play a key role in future customer experiences across its business. Expanding its store network during these times reflects the demand for the fascia’s premium brands, resulting in growth for the division despite it including a struggling House of Fraser. If you are a member of the press or media and require any further information, please get in touch, as we’re very happy to help. Frasers Group today said its £100m ‘elevation without limits’ strategy was “bearing fruit” as it reported a 17.6% jump in profits in half-year results. It means no two days are the same, you are working in an ever changing, elevating landscape which is pushing the boundaries of retail like never before. It reported earnings before interest, tax, and one-off costs of £357.1m and says that is likely to rise by between 20% and 30% in its full financial year. Submit your idea via video OR a … Frasers Group added the Bob’s Stores estate “does not include any of the new elevated stores which are core to the Frasers Group elevation strategy”. The inclusion of Belong Gaming Arenas in its stores will help to provide an experience to customers and ensure stores remain relevant in a world shifting to online. EMEA: +44 207 832 4399 Click on the banner to find out more. But once those acquisitions are excluded, revenue in the division is 0.7% down. The group's "elevation … Applications for our Elevation Programme are officially closed . Strategic acquisitions to achieve elevation and enable premium customer experience: Frasers Group's commitment towards expanding its premium segment across sport, fashion, and lifestyle fascias, with a multi-brand offering for its customers, is the biggest strategic priority for the Group that will continue to leverage its business. LONDON — Mike Ashley’s Frasers Group has hiked its stake in Mulberry to 37 percent, and now has until Dec. 17 to make a full-blown offer for the British brand, or walk away. Prior to Arcadia Group’s administration it said it would be open to buying some of its brands although as yet there is no news on this. Fortunately the Frasers Group is a strong business built on solid foundations. “We will continue to build these partnerships to develop a successful business between us in the coming years,” Frasers Group chief executive Mike Ashley said in full-year results today. The Frasers Group Elevation Programme will fast-track exceptional individuals to peak performance within two years. Such emphasis will be key to strengthening relationships with brands such as Nike and Burberry, which are integral to the success of Sports Direct and Flannels, as many brands grow their direct-to-consumer channels. #ElevationProgramme 2020/21 - let's do this. Following today’s release of Frasers Group H1 figures for 2020/21. Formerly known as Sports Direct International, the group controlled by Mike Ashley changed its name to Frasers Group in December 2019, following its acquisition of the House of Frasers, the struggling British chain of department stores. It is currently in discussions about buying Debenhams out of administration. Frasers Group. Frasers Group plc, the sporting goods retailer and lifestyle experts are set to open a brand- new multi-fascia store in Portsmouth this weekend, as part of the group’s ongoing elevation programme. The Group remains committed to its physical portfolio, however, with the opening of flagship stores and investment in elevating its existing properties. The retailer says it has invested in its stores and online as it looks to improve the customer experience and attract premium brands to its business. Group underlying EBITDA increased by 5 % to £302.1m compared to £287.8m. ft store, situated in the Cascades Shopping centre , will … Frasers Group continues to invest in its store portfolio and brand relationships and remains committed to its elevation strategy. See you at the assessment centres, where these future commercial leaders will be getting ready to own their role and become even more #Fearless. If you would like to guarantee a level of success with your … We offer you a great deal of variety and real responsibility from day one, so you can start building relationships … It is a graduate programme like no other, and this is a competition like no other. The recent opening of a new multi-fascia store in Portsmouth, housing brands such as Sports Direct, Evans Cycles and GAME, signals the Group’s intentions for the future, and the acquisition of Debenhams’ sites would allow it to expand on this.”. Pre-tax profits came in at £106.1m, 17.6% up on the previous year, as a result of new Flannels stores, strong online trade and a strong performance in stores once they reopened from Covid lockdowns. They have designed this structured, two-year training programme to find future leaders within buying and merchandising. House of Fraser and Debenhams are both Top50 retailers in RXUK Top500 research, while Sports Direct is Top150, Jack Wills is Top250 and Flannels is Top350. University of Reading. However, two new stores have opened, resulting in a total of 67 at the end of the financial year. Liverpool is the fifth largest retail centre in the country, and in our opinion underserved – we’ll be the first and only multi-category destination to mark the city. Its £100m digital elevation strategy is a timely and necessary move for key brand Sports Direct, which has lagged behind competitors such as JD Sports online, and digital investment is expected to be further increased, but focused on its premium Flannels business. Excluding acquisitions and on a currency neutral basis, underlying EBITDA was in line with the prior period. The group, centred on Mr Ashley's Sports Direct chain, is aiming to become more upmarket under an "elevation" strategy. Prior to Arcadia Group’s administration it said it would be open to buying some of its brands although as yet there is no news on this. Aside from its premium luxury division, full-year sales fell in its UK sports retail (-9.8%), European (-3.7%), rest of the world (-16.3%) and wholesale and licensing (-21.5%) divisions. Frasers Group is continuing with its elevation strategy and plans to invest over £100m in this area. The retailer says it has invested in its stores and online as it looks to improve the customer experience and attract premium brands to its business. Mike Ashley's Frasers Group has swooped to buy a 12.5% stake in struggling luxury brand Mulberry. The Group is currently in negotiations to rescue Debenhams’ UK business, although this has been complicated by the administration of the Arcadia Group, Debenhams’ biggest concession holder which declined Frasers’ offer of a £50m loan facility before going under. Nonetheless, these results, combined with English stores reopening in December, has enabled the Group to raise the bottom end of its full year guidance for underlying EBITDA from 10% to 20%, with the upper end remaining at 30%, sending its share price climbing 10% in early morning trading. Strategic acquisitions help the group to achieve this goal. The move was designed to improve its image as part of an “elevation” strategy. Frasers Group today said its £100m ‘elevation without limits’ strategy was “bearing fruit” as it reported a 17.6% jump in profits in half-year results. In recent years it has bought House of Fraser and attempted to buy the Debenhams department store as well. We can weather most of the storms faced this calendar year, however much of the UK high street, which was already suffering before Covid-19, won’t survive unless the Government addresses the out-of-date business rates regime which is due to return come April 2021.”, Commenting on today’s results, Alex Hardy, retail analyst at data and analytics company GlobalData, says: ‘‘Significant investment in its digital business has helped to mitigate the effects of the Covid-19 pandemic for the Frasers Group, with total revenue declining 7.4% to £1,893m in H1 FY2020/21 despite stores being closed for over a quarter of the period. Frasers Group today reported sales of £1.9bn in the 26 weeks to October 25. The Frasers Group Elevation Programme is an opportunity for exceptional people to kickstart their commercial career. 2. // Frasers Group have signed a new 60,000sq ft site in Birmingham city centre // The brand-new store will be one of the latest “multi-brand” retail destinations for the firm - Webinar, How Ooni increased marketplace sales by 150% in first year - Webinar, EDITORIAL How ecommerce and multichannel retail performed in a year marked by Covid-19 and Brexit, GUEST COMMENT: Rethinking retail fulfilment – the key to navigating a post-Brexit supply chain, EDITORIAL Valentine’s Day will show retail what 2021 is going to be like, Retail GDP down by 2.2% in 2020 – as the BRC says the industry lost sales of £22bn over the year and calls for government support in next month’s Budget, Royal Mail sees busiest quarter ever as Christmas shopping shifted online during lockdown – and says it’s too soon to draw conclusions about the effect of Brexit on its international business, Ted Baker says digital-led transformation plan on track despite 47% drop in sales during Covid-19 lockdowns, Ocado says it’s well placed to respond as grocery shopping shifts further online, Joules buys The Garden Trading Company to expand further into the home and garden categories, Boohoo takes final Arcadia brands – Dorothy Perkins, Wallis and Burton – online only in £25m deal, Strong luxury watch demand drives online sales at Watches of Switzerland, Asos buys Topshop and sister brands as high street fashion moves to mobile, Half of UK exporters facing difficulties with post-Brexit rules for trade with European Union countries; a third of UK shoppers now avoid buying from Europe: surveys, Dunelm sees online grow 111% as it outperforms homeware market, UK shoppers sitting on £2.4bn in unwanted goods as lockdown prevents them making returns, Online sales grow at record levels in January - but overall retail sales fall to lowest level since last May: BRC/Barclaycard. The group said at the time that a “key strategic priority for Frasers Group is the elevation of our retail proposition and building stronger relationships with premium third-party brands”. Join the conversation. 03925319, Market & Competitive Intelligence Solution, Private Equity & Venture Capital Solution, Securities Information: Shares Not in Public Hands, Anti-Slavery and Human Trafficking Policy, Elevation strategy drives profit growth for Frasers Group. Frasers Group has announced plans to open three new regional flagship Flannels stores in 2021, including a seven-floor megastore in Liverpool. The retail group saw its stores in the UK and Europe closed at different times during the half-year and beyond. The group is now considering a further investment specifically in digital luxury elevation for the Flannels business, and will make an announcement in full-year results next summer. By continuing to browse this site you are agreeing to our use of cookies. You will have the opportunity to impact the commercial performance of our products from inception to retirement, working in each of the teams within the Commercial Division. While Nike’s decision does not directly affect the rest of the Frasers Group, Bob’s Stores will immediately be put under strategic review. We use cookies to give you the best online experience. At the beginning of November, Frasers upped that stake to 29.6 percent. pr@globaldata.com Pitch … It really is an exciting time for the group with elevation of our existing portfolio and integration of other brands and businesses which allow us to expand in a world where others are facing huge challenges. Frasers said it was continuing with its elevation strategy across is store portfolio meaning that its model continues to evolve across all formats. Frasers Group are continually pushing to deploy cutting edge technology, this is the strategic vision as it aims to meet the demands of an ever more sophisticated consumer who is increasingly looking for an enhanced shopping experience. Billionaire Mike Ashley’s Frasers Group Plc has raised its investment in Hugo Boss AG as the U.K. retailer pursues a strategy of taking bets on rival operators and “elevating” its own brands. It changed its name to Frasers Group following the acquisition of struggling department store chain House of Fraser, also bought out of administration. Mike Ashley faces another showdown with investors at Frasers Group’s annual meeting on Wednesday after one advisory group said shareholders should block his … The Group must not ignore its Sports Retail division though, which contributes 57% of total revenue. It said it “continues to make progress with the reorganisation and elevation of the House of Fraser business”. APAC: +91 40 6616 6809, Hot TopicsTerms & ConditionsPrivacy PolicyContactSitemap, © GlobalData Plc 2020 | Registered Office: John Carpenter House, John Carpenter Street, London, EC4Y 0AN, UK | Registered in England No. The Group remains committed to its physical portfolio, however, with the opening of flagship stores and investment in elevating its existing properties. Report this profile Activity A group of new talent - ready to make moves. $269.00; Summer Beach (Slide Cart) Rated 2.48 out of 5 $ 20.00 20.00 We are the magazine, portal and research source for European ecommerce and multichannel retail, hosting the board-level conversation for retailers, pureplays and brands across all of our platforms. It says that its online service “remains resilient and helps to mitigate to a certain extent the negative effect caused by these bricks and mortar closures”. A curated update containing news analysis, reports, podcasts and opinion - completely free and delivered three times weekly, "RetailX and Watchshop" - Post-Peak, Post-Brexit, Post-Pandemic? We’ll give participants the tools they need to thrive in commercial management – with no prior experience (or degree) required. We use cookies so we can provide you with the best online experience. Such emphasis will be key to strengthening relationships with brands such as Nike and Burberry, which are integral to the success of Sports Direct and Flannels, as many brands grow their direct-to-consumer channels. Mochael Murray, head of elevation at Frasers Group, said: “We recognise Liverpool as a powerhouse of culture and style – it’s a symbiotic home for Flannels. Frasers Group has announced it is to open a ‘game changing’ multi-brand store in Portsmouth on Saturday as part of its ongoing elevation strategy. Building a better tomorrow starts here. That comes, says Frasers Group, as a result of new Flannels stores, increased online sales, and the acquisitions of Jack Wills and Sofa.com. Join to Connect Frasers Group. But it says that the high street will not survive Covid-19 unless the government reforms business rates. Its premium luxury division was the only part of its business to show a rise in sales during its latest financial year - by 4.8% to £320.4m. Frasers Group 14 Oct 2020 The Elevation Programme (launched in 2020) is a two-year development programme open to anyone, from any background - no degree or commercial experience necessary. Recent acquisitions including Jack Wills and Sofa.com were major contributors to this however, with l-f-l revenue witnessing a fall of 11.2%. Move upmarket through £100m 'elevation without limits' strategy starts to bear fruit for Frasers Group. The 51,000-square-foot space, situated in the Cascades Shopping centre, will be the group’s first to house a Sports Direct, USC, Evans, Game as well as a Belong Gaming Arena all under one roof. Recent acquisitions including Jack Wills and Sofa.com were major contributors to this however, with like-for-like revenue witnessing a fall of 11.2%. They're IN. Michael Murray, Frasers Group head of elevation, said Friday the company was “proud to show our commitment to this growing relationship between Mulberry and the Frasers Group … The Group is prioritising its premium lifestyle division which outperformed in the period, with a revenue decline of 0.7% excluding acquisitions, driven by the opening of three new Flannels stores. Head of Elevation at Frasers Group London, United Kingdom 500+ connections. Please let us know if you agree to our use. “A key strategic priority for Frasers Group is the elevation of our retail proposition and building stronger relationships with premium third-party brands. What does it mean to work for Frasers Group? Nonetheless, these results, combined with English stores reopening in December, has enabled the group to raise the bottom end of its full-year guidance for underlying EBITDA from 10% to 20%, with the upper end remaining at 30%, sending its share price climbing 10% in early morning trading.”. The role is based in London and you will start as a Buying Assistant. Following the acquisition of Jack Wills in August 2019, the group closed 31 of its stores. That’s 7.4% down on the same time last year. We've asked some of the people who've joined us recently to tell us what they've learned at Frasers… A 120,000 square foot Flannels store will open on Liverpool’s iconic Parker Street in the autumn, taking over the city’s ‘Owen Owen’ building. The Frasers Group Elevation Programme will fast-track exceptional individuals to peak performance within two years. Alex Hardy, Retail Analyst at GlobalData, a leading data and analytics company, comments: ‘‘Significant investment in its digital business has helped to mitigate the effects of the COVID-19 pandemic for the Frasers Group, with total revenue declining 7.4% to £1,893m in H1 FY2020/21 despite stores being closed for over a quarter of the period. Think of something that improves university experience during the pandemic OR come up with a new product for one of Frasers Group's brands. The Frasers Group Elevation Programme will fast-track exceptional individuals to peak performance within two years. It now expects underlying EBITDA to rise 20% - 30%.