Sports Direct owner buys historic Savile Row tailor

Sports Direct owner Frasers Group is buying Gieves & Hawkes, the historic Savile Row tailor, the BBC has learned. The Frasers Group's chief executive said the move secured "a long-term future" for the 250-year-old firm. Michael Murray, chief executive of Frasers Group, commented: "We are delighted to have acquired Gieves & Hawkes, securing a long-term future for an iconic 250-year-old brand."This acquisition further adds to our portfolio of strategic investments in luxury and premium brands. Retail billionaire Mike Ashley has been one of the High Street's most prominent and colourful figures since founding Sports Direct, which eventually became Frasers Group, 40 years ago. Mr Ashley recently stepped down from the board of Frasers Group but remains the group's controlling shareholder.

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