Frasers, the retail group behind well-known brands like Flannels, Sports Direct, House of Fraser, and Jack Wills, is looking for new investment opportunities. The CEO of Frasers, Michael Murray, has expressed his commitment to improving relations with City investors and has announced plans to hire an investor relations manager to enhance communication strategies. The company has appointed Numis as a joint corporate broker and PR agency Brunswick to handle financial communications.
Murray acknowledges the need to reset the company’s relations with the City and pledges to improve communication with investors. He plans to take a less confrontational approach compared to the previous CEO, Mike Ashley. In terms of the group’s acquisition strategy, Murray intends to be more selective, focusing on opportunities that align with its sport, premium, and luxury segments, as well as those that add value to its ecosystem or platform.
Murray took over as CEO in May, succeeding Ashley while remaining the major shareholder. He previously served as Head of Elevation, where he was responsible for modernizing the brand and elevating it to a more upmarket direction. This shift in strategy is evident in the growth of the high-end fashion brand, Flannels, as well as the expansion and upgrade of Sports Direct.
Frasers has recently acquired struggling e-commerce retailers Missguided and I Saw It First and is also in the running to acquire upscale tailor Gieves & Hawkes. However, the company has divested its US sports/outdoor operations as Murray believed they did not align with the group’s strategy.
Murray acknowledges that shareholders are eager to see more of the company’s initiatives and the pace of its progress. He emphasizes the importance of investing in successful ventures and maintaining focus. Furthermore, Murray intends to acquire more businesses and open more stores, driven by the strong financial results of the company, which saw annual sales increase by almost a third and pre-tax profits surge.
For more information on Frasers and its brands, visit their official website here.
To learn more about investor relations and strategies, check out this informative article here.
