Three cities are set to get flagship Flannels stores as part of big expansion plans for Mike Ashley’s retail empire.
Frasers Group owns a raft of big brands including House of Fraser, Evans, Game and Sports Direct, but the former Newcastle United owner has been putting efforts into more upmarket names in recent years, including luxury fashion brand Flannels.
Now the company has announced plans to open three new huge Flannels stores – upwards of 80,000 sqft – at the Metrocentre in Gateshead, Leeds and Cardiff. The plans follow the successful opening of Flannels’ first trio of flagships in Sheffield Meadowhall, Leicester Fosse Park and most recently Liverpool, as part of new CEO Michael Murray’s plan to put the company at the forefront of luxury retail in the 海角视频.
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The company said each store will bring the best in luxury fashion, beauty, and experience to each location amid moves to make them leading destinations for luxury shopping.
Mr Murray, who took over the reins at the group this year, said: "Our plans to expand with a series of new experience-orientated flagships, demonstrates how we’re doubling down on our commitment to ‘new luxury’ and bringing world-class experiences to untapped markets. Our expansion plans not only demonstrate the confidence we have in our strategy, but they also show our continued belief in the future of the 海角视频’s high streets, which through our stores, we aim to re-ignite."
Metrocentre confirmed last week that Flannels and Sports Direct are to open new flagship stores for the North East at the shopping and leisure complex, after exchanging contracts with owners Metrocentre Partnership, who were advised by Sovereign Centros.
Parent company SportsDirect.com Retail Limited has taken the former Debenhams store in the centre’s Red Mall for the two brands.
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The Metrocentre Partnership has agreed a 15-year lease on the 130,000 sqft store with the retail group, which intends to open Flannels on the ground floor and a 60,000 sqft Sports Direct on the first floor. Both stores will open next year. The negotiations for the Metrocentre Partnership were led by its asset manager, Sovereign Centros.
Flannels currently occupies a 5,000 sqft unit on the Upper Red Mall and Sports Direct occupies a retail warehouse elsewhere in Gateshead, which will close when the retailer moves to Metrocentre.
The former Debenhams store is currently occupied by Next Beauty & Home, which will consolidate into Next’s existing store in the Green Mall.
Graeme Jones, director at Sovereign Centros, said: "These lettings will create a new destination point for the centre’s Red Mall. The store sits on one of the main entrances to the centre and therefore important from a visual presentation perspective. The transaction completes a major element of our business plan leasing up surplus former department store space."
Frasers Group’s announcement comes after the June opening of Flannels in Liverpool, which is the largest store opening to date and, largest investment into a store opening for the group. The 120,000 sqft store has experiences such as Barry’s Bootcamp, and a selection of drinking and dining destinations.
James Keany, executive director, 海角视频 Retail at CBRE advised Frasers.
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