Sports Direct owner buys historic Savile Row tailor

Sports Direct proprietor Frasers Group is buying Gieves & Hawkes, the historical Savile Row tailor, the BBC has learned.

The Frasers Group's main enforcement said the determination secured "a semipermanent future" for the 250-year-old firm.

The retail giant, which was founded by Mike Ashley, emerged arsenic a imaginable purchaser of Gieves & Hawkes successful September.

It is understood each 5 of Gieves & Hawkes's UK stores volition beryllium portion of the deal, including the flagship determination astatine Number 1 Savile Row successful London.

The store is 1 of the world's astir celebrated manner addresses, with different stores located successful Bath, Birmingham, Chester and Winchester.

Gieves & Hawkes is 1 of the oldest bespoke tailoring companies.

But it has faced uncertainty ever since its Hong Kong-based proprietor collapsed into liquidation past year.

Michael Murray, main enforcement of Frasers Group, commented: "We are delighted to person acquired Gieves & Hawkes, securing a semipermanent aboriginal for an iconic 250-year-old brand.

"This acquisition further adds to our portfolio of strategical investments successful luxury and premium brands."

Retail billionaire Mike Ashley has been 1 of the High Street's astir salient and colourful figures since founding Sports Direct, which yet became Frasers Group, 40 years ago.

Mr Ashley precocious stepped down from the committee of Frasers Group but remains the group's controlling shareholder.

He had already handed implicit the moving of the radical to his son-in-law Mr Murray earlier this year.