Billionaire businessman Mike Ashley’s retail conglomerate has acquired two discount shopping villages to expand its property portfolio. Frasers Group disclosed the purchase of the York Designer Outlet and the East Midlands Designer Outlet, popular destinations that collectively draw nearly 7.8 million shoppers annually. While the specific deal value was not revealed, estimates suggest it could be in the region of £400 million.
Frasers, known for its ownership of various retail brands such as Sports Direct and House of Fraser, has been steadily increasing its presence in the shopping center market nationwide. Michael Murray, Mr. Ashley’s son-in-law and CEO of Frasers Group, expressed the company’s goal of further growing its market share in the UK outlet sector.
This recent acquisition follows Frasers’ previous purchase of the Swindon Designer Outlet and the Braehead Shopping Centre in Scotland for reported amounts of £220 million and £400 million, respectively. The company also owns several other shopping centers across the country, emphasizing its commitment to investing in properties to enhance its retail operations and contribute to revitalizing UK high streets.
The York Designer Outlet spans 250,000 square feet and hosts over 120 retailers, while the East Midlands Designer Outlet, covering 170,000 square feet and housing more than 65 designer brands, attracts 3.5 million visitors annually. Mr. Murray highlighted the strategic importance of these acquisitions in strengthening partnerships with global brands and fostering mutual growth opportunities.
Mike Ashley, the ambitious founder of the retail empire, initiated his business journey over three decades ago in Maidenhead, Berkshire. Today, Frasers Group boasts a market value of nearly £3 billion, operates over 1,500 stores, employs over 30,000 individuals, and has a global presence in 30 countries.
