Mike Ashley, the founder of Frasers Group, has been named as a consultant to the company he built from a single shop. Although he stepped down from his role as the company’s head last year, this new consultancy arrangement allows Ashley to provide guidance on matters related to Frasers’ supply chain and operations. While the consultancy is unpaid, concerns have been raised about Ashley possibly acting as a shadow director and exerting influence over the board without being held accountable. To address these concerns, Frasers has sought legal advice to ensure that the arrangement aligns with principles of good governance.
Currently, Frasers Group is led by CEO Michael Murray, who is Ashley’s son-in-law. Besides overseeing the company’s retail operations, Murray also manages a significant budget earmarked for acquisitions. In recent weeks, Frasers has acquired stakes in fast fashion retailer Boohoo, ASOS, and electrical goods retailers AO and Currys. Additionally, the company holds major stakes in Hugo Boss, Mulberry, and e-tailer N Brown, among others. Murray maintains a watchlist of companies that he believes will enhance Frasers’ standing, particularly among the youth market. However, acquisitions are executed only when the prices are favorable.
There is speculation that Frasers Group may be considering the expansion into outlet centers to complement its existing full-price business. The recent acquisition of MySale may indicate the company’s interest in pursuing this direction. Under Murray’s leadership, Frasers Group continues to grow and adapt, making strategic acquisitions to strengthen its position in the market. With Ashley assuming the role of consultant, his extensive knowledge and experience are expected to contribute significantly to the company’s ongoing success.
Useful Links:
1. Frasers Group Official Website
2. Article on Frasers Group’s Expansion Plans
