Frasers Group reportedly steps in to bid on Savile Row tailor Gieves & Hawkes

Acquisition hungry Frasers Group is reportedly one of the few remaining bidders for British tailor Gieves & Hawkes.

The retailer is up for sale after its Hong Kong-based owner Trinity Group collapsed into liquidation.

According to sources at Sky News, Mike Ashley’s Frasers Group is now among a handful of bidders scrambling for a possible acquisition, with each of the parties expected to submit revised bids for the brand this week.

Gieves & Hawkes came together under one roof back in 1974, however as individual tailoring labels, their histories date back to 1785 and 1771.

The formalwear brand has previously held royal warrants for the late Queen Elizabeth II, as well as King Charles III and other notable figures, such as Winston Churchill.

However, the retailer has fallen under hard times due the pandemic’s impact on working habits, which has ultimately affected the demand for bespoke suits and tailoring.

Frasers entry into the bidding war comes as the group continues to expand its portfolio through a growing chain of acquisitions.

The retail conglomerate most recently snapped up troubled online fashion retailer Missguided in a 20 million pound deal, and has previously taken over a range of high street brands, including Jack Wills and Agent Provocateur.

The group, under the guidance of recently appointed CEO Michael Murray, is currently undergoing an “elevation” strategy, through which it is aiming to commit to a “new luxury”.