# Mike Ashley’s Frasers buys THG’s portfolio of luxury goods websites
Author: Pal sinha, Barnali
Author URL: https://startupobserver.com/author/pal-sinha-barnali/
Published: 2024-06-24
Category: Headlines
Category URL: https://startupobserver.com/category/headlines/
Meta Title: Mike Ashley's Frasers Acquires THG's Luxury Goods Websites Portfolio
Meta Description: Discover how Mike Ashley's Frasers group has purchased THG's luxury goods websites, expanding their luxury offering with brands like FLANNELS and Myprotein.
URL: https://startupobserver.com/mike-ashleys-frasers-buys-thgs-portfolio-of-luxury-goods-websites/

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(Reuters) -British e-commerce firm THG has agreed to sell its [portfolio](https://startupobserver.com/top-vw-investor-porsche-se-eyes-further-investments/) of luxury goods websites to Mike Ashley’s Frasers Group for an undisclosed sum, it said on Monday.

THG and Frasers have also agreed on a partnership across several areas including with THG Ingenuity, the online platform that serves third-party brands, and online sports nutrition brand Myprotein.

Frasers, the [British](https://startupobserver.com/uk-commercial-property-values-stabilising-despite-offices-drag-says-british-land/) sportswear and apparel retailer controlled by Ashley, has been bolstering its luxury offering, which includes FLANNELS.

THG’s portfolio of [luxury](https://startupobserver.com/lvmh-shares-rise-after-luxury-giants-q1-sales-offer-element-of-reassurance/) goods websites include coggles, an international fashion retailer that is home to designer collections.

Its luxury division made about 43 million pounds ($54.39 million) in sales last year and was broadly break-even despite the tough luxury market, THG said.

($1 = 0.7906 pounds)

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Mrigank Dhaniwala and Sherry Jacob-Phillips)


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