Business In News
High-street tycoon Mike Ashley has reportedly joined the race to takeover Savile Row tailor Gieves & Hawkes.
First reported by Sky News, Ashley’s Frasers Group – previously known as Sports Direct International- is now the latest bidder to join the grab for the 250-year-old Savile Row brand.
It comes as Gieves & Hawkes’ Hong Kong-based owner Trinity collapsed into liquidation at the end of last year, with liquidators keen to attract prospective buyers.
We reported last month that the sale will include Gieves and Hawkes’ business in the UK, alongside its operations and licensing agreements in Greater China.
Gieves and Hawkes, headquartered at No. 1 Savile Row in London, had 58 stores in 25 cities as of May last year.
Its roots are in the military tailoring tradition, and the brand holds three royal warrants.
The tailor has counted every British monarch since George III among its customers, along with former Prime Minister Sir Winston Churchill. Some of its present-day high-profile clients include Prince William and David Beckham.
Meanwhile, Frasers has snapped up a number high street brands in recent months, including Jack Wills and Missguided.
Retail tycoon Mike Ashley joins the race for Savile Row tailor Gieves & Hawkes