Frasers Group, the parent company of Sports Direct, has acquired a majority stake in the Miami, FL-based luxury retailer The Webster, strengthening its position in the luxury space.
The Webster will continue to operate as a stand-alone business within Frasers Group’s Flannels luxury division.
Under the new deal, Laure Hériard Dubreuil, founder and CEO of The Webster, will remain a significant shareholder and continue to oversee daily operations. Founded in 2008 in South Beach, FL, The Webster offers over 100 brands to its customers, including Chanel, Dior, Gucci, and Saint Laurent.
The sale of the business follows a period of strong performance for the luxury retailer, which reported a “10 percent revenue growth and expanded its footprint to 13 stores across North America, including new openings in Atlanta, Austin and Las Vegas.”
“I am so excited to announce the start of a new chapter for The Webster,” Hériard Dubreuil said. “In almost two decades, The Webster has grown far beyond my wildest dreams, from the locations we have opened to the amazing brand partnerships we have been able to create during my tenure. When it came to looking toward the future, it was so important to me to find a like-minded partner who believed in what The Webster stood for. Our creativity, curation and customer experience are what have allowed us to remain a fixture within a world of primarily digital retail. Since our first conversation, I knew that Michael and the Frasers Group team were completely aligned with our approach and would be the best partner to help take the business to the next level, bringing a renewed energy and digital innovation.”
Michael Murray, CEO of Frasers Group, added: “I’ve long admired what Laure has built with The Webster — a truly unique concept with flawless execution and exceptional brand partnerships, including Chanel, Gucci and Celine. This partnership marks an exciting new chapter for both The Webster and Frasers Group’s luxury division, Flannels. With our financial strength, operational expertise, and proven digital capabilities, it’s a perfect partnership to support The Webster to fulfill its potential. Equally, I look forward to learning from Laure and further elevating our own luxury portfolio. Together, we’re unlocking new opportunities for both The Webster and Flannels: a powerful alignment of ambition, expertise, and vision for the future of global luxury retail.”
Flannels operates over 80 stores across the U.K. and Ireland. It was founded in the north of England in 1976 and was acquired by Frasers Group in 2017.
Beyond Sports Direct and Flannels, Frasers Group’s brands also include House of Fraser, 18montrose, Amara Living, Evans Cycles, Everlast, Everlast Gyms, Frasers, Game, Gieves & Hawkes, I Saw It First, Jack Wills, Slazenger, Sofa.com, Studio, USA Pro, and USC.
Image courtesy The Webster
