The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
British businessman Mike Ashley’s fashion group announced it had acquired the womenswear brand for an undisclosed sum in a regulatory filing Thursday.
The acquisition of I Saw It First is the latest in a series of deals by the fashion group, which also owns department store chain House of Fraser and luxury fashion retailer Flannels.
It paid £20 million ($25 million) for the intellectual property of Missguided and related companies in June, after the struggling fast-fashion retailer entered UK insolvency proceedings.
Frasers Group said that it now plans to integrate I Saw It First and Missguided.
ADVERTISEMENT
Learn more:
Mike Ashley Acquires Missguided in £20 Million Rescue Deal
Ashley’s Frasers Group Plc agreed to pay £20 million ($25 million) for the intellectual property of Missguided and related companies.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.
The humble trainer, once the reserve of football fans, Britpop kids and the odd skateboarder, has become as ubiquitous as battered Converse All Stars in the 00s indie sleaze years.
Manhattanites had little love for the $25 billion megaproject when it opened five years ago (the pandemic lockdowns didn't help, either). But a constantly shifting mix of stores, restaurants and experiences is now drawing large numbers of both locals and tourists.