British retail stalwart Frasers Group has said that it will now shift towards more selective acquisition strategy.
Substantiating further on the same, Michael Murray, CEO, Frasers Group, said “If it doesn’t fit into sport, premium or luxury or add value to our ecosystem or platform… then we won’t be buying it.”
The Group, as per media reports, intends to acquire more businesses – besides launching more stores. However, all future purchases would be more selective, said Michael.
2022 has been no different as Frasers bought several new businesses this year too, which included the likes of Missguided and I Saw It First.
Michael said his conversations with shareholders clearly indicated that “they want to see more of what we are doing and how quickly we can go.”
He further added “Obviously, they like the financial results… they want us to keep investing in the things that work and stay focused.”
The Mike Ashley-owned Frasers Group, earlier known as Sports Direct International, generated £ 3,957.4 million in 2020.
