FRASERS RAMPS UP FLANNELS EXPANSION WITH THREE NEW FLAGSHIPS25th August 2022
Frasers Group has picked three regional locations to open flagship stores for its expanding luxury Flannels brand, React News revealed.
The next wave of expansion will see Flannels stores open in Leeds, Cardiff and Gateshead’s Metrocentre. The flagships – all over 80,000 sq ft in size – will be “modern, agile retail experiences that will become leading destinations for new luxury”, Frasers Group said.
The latest plans follow the successful launch of a trio of Flannels stores in Sheffield Meadowhall, Leicester Fosse Park and, most recently, Liverpool.
In Leeds, Frasers is taking the former Debenhams building at 115-126 Briggate and 63-67 Queen Street in the heart of Cardiff’s city centre.
Metrocentre Partnership announced it had leased part of the former Debenhams at Metrocentre to Flannels on a 15-year deal last week.
“Our expansion plans not only demonstrate the confidence we have in our strategy, but they also show our continued belief in the future of the UK’s high streets, which through our stores, we aim to re-ignite”
MICHAEL MURRAY, FRASERS GROUP
The growth strategy will see significant investment from Frasers Group, with the Leeds, Cardiff and Metrocentre flagships anticipated to open in late 2023. Frasers added that the spaces will bring with them the best in luxury fashion, beauty and experience.
Michael Murray, Flannels’ chief executive, said: “Our plans to expand with a series of new experience-orientated flagships demonstrates how we’re doubling down on our commitment to ‘new luxury’ and bringing world-class experiences to untapped markets. Our expansion plans not only demonstrate the confidence we have in our strategy, but they also show our continued belief in the future of the UK’s high streets, which through our stores, we aim to re-ignite.”
The announcement closely follows the opening of Flannels’ Liverpool flagship, which is the largest store opening to date and the largest investment into a store opening for the group. The 120,000 sq ft unit opened in June 2022.
James Keany, executive director, UK retail at CBRE, who advised Frasers, said: “Frasers Group is rapidly growing its presence in the luxury sector and the addition of these new flagship stores signals further positivity and commitment to the future of physical retail.”