Frasers, the U.K.-based parent of Sports Direct, has acquired Coggles, an online seller of designer fashion, from THG as part of a multi-year partnership that also includes Frasers using THG’s technology in some parts of its business.
The deal is a further step in a diversification strategy by Frasers’ Mike Ashley to add premium brands, including the House of Fraser department store and Flannels.
Sports Direct still accounts for half the company’s sales. The transaction value was not disclosed.
As part of the partnership, Frasers will integrate its customer credit and loyalty program, Frasers Plus, into THG’s Ingenuity platform, marketing Frasers Plus’ first partnership with an external partner. THG will also support Frasers with courier management services and re-platform its Australian fulfillment and logistics operations. Also, as part of the deal, THG brand Myprotein will add distribution inside Sports Direct stores.
Michael Murray, CEO of Frasers Group, said, “Today we are pleased to announce a new strategic partnership with THG, which includes launching our consumer credit and loyalty proposition, Frasers Plus, across the THG Ingenuity platform. This is an exciting step towards our Frasers Plus ambitions as we look to expand its offering across additional third-party platforms. We are looking forward to working with the THG team and unlocking further benefits for both businesses.”
Matthew Moulding, CEO of THG, commented: “We are delighted to be partnering with Frasers Group across a broad range of initiatives, in particular bringing Frasers Plus to consumers shopping with Ingenuity clients, as well as to our retail sites including Lookfantastic, Cult Beauty and Myprotein. Our luxury brand portfolio, including Coggles, has grown from a standing start eleven years ago, and we are eager to watch it develop further as an Ingenuity client. The success of Coggles has only been possible through the hard work and dedication of THG’s luxury team, to whom we all want to extend our thanks and gratitude.”
Frasers also owns House of Fraser, Jack Wills, GAME, USC, Evans Cycles, Matches Fashion, Gieves & Hawkes, and the intellectual property of Everlast, Lonsdale, Slazenger, and Karrimor. It also owns a significant interest in Hugo Boss.
Image courtesy Coggles
