298
Fashion Jobs
L'OREAL GROUP
Assistant CRM Manager
Permanent · HONG KONG
L'OREAL GROUP
Key Account Manager
Permanent · HONG KONG
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
Published
May 26, 2022
Reading time
2 minutes
Download
Download the article
Print
Text size

Fraser's sells US-based Bobs and Eastern Mountain Sports

Published
May 26, 2022

Frasers Group said this week that it’s disposed of its US retail businesses, Bobs Stores and Eastern Mountain Sports (EMS), for a cash consideration of $70m to GoDigital Media Group (GDMG). 


Eastern Mountain Sports



The funds will go into the company’s general working capital pool and are likely to be a welcome boost given the vast amounts of money it’s investing in its elevation stagey at present as it opens a raft of higher-end stores across the UK.

On that subject, it said the Bobs and EMS store estate doesn’t include “any of the new elevated stores, which are core to that strategy”. 

“The disposal of these non-core businesses allows FG to have an even greater focus on delivering its elevation strategy by focusing on store experience, digital and product”, it said. 

Frasers bought the US businesses for a figure reported to be $101 million back in 2017 when it was still known as Sports Direct. They were acquired from Eastern Outfitters that had filed for bankruptcy and the move was the firm’s first step into the giant US market.

The UK business had said it would operate 50 of the physical sores, plus their webstores and had big plans to expand the offer.

At the time, a company spokesperson said: “We are excited to expand our presence in the United States. Adding these reputable and established retailers to Sports Direct's portfolio of holdings in the US will afford us a strong platform with which to rapidly expand our store and web presence, in this critically important market.”

However, the move upmarket since then made those US stores look increasingly out of step with the parent company.

Copyright © 2024 FashionNetwork.com All rights reserved.