Plans revealed for House of Fraser's renaissance
Sports Direct's House of Fraser division is to embark on a programme of investing in the full refurbishment and re-branding of some of its existing HoF stores to a 'Frasers' fascia which will see them become more upmarket, in line with Mike Ashley's earlier pledge to turn the chain into the Harrods of the high street. A further 31 stores could be included in the ambitious programme, if the business can secure rent holidays. It is also considering new sites.
Sports Direct's existing upmarket division which includes the Flannels chain achieved sales of £162 million last year, an increase of 43 per cent, and it is being said that the Frasers stores will emulate Flannels to offer consumers access to fashionable higher ticket labels which are hard to find on the High Street.