// Mike Ashley to rebrand 7 House of Fraser stores into Frasers
// Frasers will comprise of luxury mini-chains
Mike Ashley is currently preparing for up to seven House of Fraser stores to be rebranded as Frasers, which will be a mini chain of luxury stores.
The Sports Direct tycoon bought the struggling department store out of administration for £90 million last August and has told suppliers he intends to rebrand up to seven stores and create two divisions: Frasers to stock designer labels, while House of Fraser caters to a more mass market audience.
Currently, the House of Fraser flagship store in Glasgow already operates under the Frasers name, while the Belfast store is one of the outlets included in the rebranding preparations.
The news follows Ashley’s ambition of turning House of Fraser into the “Harrods of the high street”, which he received criticism for in allowing some stores to suffer since he bought the department store chain.
The billionaire acquired the Frasers building in Glasgow for £95 million, closed five stores and made deals on at least 37 others, though many of these are only one-year agreements, which are due to expire in August.