Frasers Group is reportedly in advanced negotiations to purchase Coggles from The Hut Group (THG), a move that could soon culminate in a formal agreement. The impending acquisition highlights Frasers Group’s strategic pursuit of expanding its luxury retail portfolio.
- Initially established as a boutique in York, Coggles was acquired by THG in 2013, offering over 200 designer brands online.
- The potential deal aligns with THG’s strategy of divesting non-core assets to concentrate on its primary sectors like nutrition and beauty.
- Previously, Frasers Group acquired ProBikeKit and other THG assets, indicating a pattern of strategic acquisitions.
- While both THG and Frasers Group have remained silent on the specifics, the deal is anticipated to formalise imminently.
Frasers Group is on the verge of acquiring Coggles from THG, with sources suggesting an agreement may be imminent. This acquisition marks another significant step for Frasers Group in enhancing its luxury offerings, following its recent pattern of strategic purchases in the retail sector.
Coggles, a platform with more than 200 high-end men’s and women’s fashion brands such as Balenciaga and Gucci, was established in 1974 and became part of THG in 2013. The online store has carved a niche in the luxury retail market, making it an attractive acquisition target.
Recently, THG has been actively streamlining its operations, focusing on core areas like nutrition, beauty, and digital marketing. As part of this strategy, THG sold several non-core assets, including ProBikeKit to Frasers Group, suggesting a clear direction towards concentrating its business efforts.
This potential acquisition is in line with Frasers Group’s recent moves, such as the purchase of luxury retailer Matches. These activities denote Frasers Group’s aggressive expansion strategy within the luxury fashion domain, aimed at solidifying its market position.
Both THG and Frasers Group have refrained from official comments regarding the potential Coggles deal, adding an element of anticipation to the unfolding business narrative. However, the industry’s keen focus remains on the announcement, expected in the near future.
The anticipated acquisition of Coggles by Frasers Group signifies a strategic manoeuvre to bolster its luxury retail market presence.
