Frasers Group: Best Low Margin Retailer UK 2020
In the low margin business environment you have to think fast and react faster to survive. But to prosper, you have to think ahead. The bloodbath on Britain’s high street over the last two decades has been terrifying – and it has changed the way consumers connect with retailers. Many long-standing famous names have disappeared in the face of fierce online competition and soaring rents and business rates. The Frasers Group believes the higher the risk, the greater the reward in the low margin arena. The company emerged in 2019 following the acquisition of House of Fraser by Mike Ashley’s Sports Direct empire. The group, once known solely for sporting goods, has diversified, now comprising some of the most iconic brands in retailing, including Flannels, Jack Wills, Game, Evans Cycles and Slazenger. The company has never been afraid to push the boundaries of traditional retailing, constantly tracking trends and reacting rapidly. At the end of 2020 Frasers Group reported a 17.6 percent jump in profits, claiming its “elevation without limits” strategy was bearing fruit, despite the pandemic. Investing in bricks-and-mortar stores, as well as online, is evidence of the company’s promise to not only keep up with trends but to “reimagine retail”, changing the way the industry operates. Frasers Group has pledged to further invest, not only in its properties, but also its digital business, to elevate its retail proposition across all channels. The CFI.co judges name Frasers Group as the winner of the 2020 award: Best Low Margin Retailer UK.
