Frasers Group acquires luxury homeware retailer Amara Living
Mike Ashley’s Frasers Group has continued its acquisition conquest, snapping up luxury homeware retailer Amara Living in a takeover deal for an undisclosed sum.
The retail conglomerate’s CEO Michael Murray announced the news in a LinkedIn post, where he stated: “This acquisition will build on our ambitions to create a credible homeware destination for Flannels.”
Founded in 2005, Amara stocks a range of leading luxury home brands, including Versace Home, Roberto Cavalli and Ralph Lauren.
It comes as Frasers, which already owns the likes of Sports Direct, House of Frasers and Flannels, looks to keep venturing into a more premium market, through the use of both acquisitions and stakes.
Following a string of continually increasing stakes in Hugo Boss, the group most recently added menswear tailor Gieves & Hawkes to its portfolio, snapping up five of the brand’s stores, including its Savile Row flagship.
Its acquisition path hasn’t stopped there, however.
Over 2022, the group set about takeovers of multiple fast fashion retailers, including I Saw It First and the struggling Missguided.
It also increased its stake in e-commerce company Asos, which is also battling to keep its head above water after it swung into the red in its recent financial report.