What: another acquisition for the UK retail group

Why it is important: Frasers Group has been making many purchases across the retail scene lately, extending its footprints both in UK and worldwide.

The purchase of Psyche include a 3700 sqm multi-brand store and a webstore, featuring high-end brands such as Barbour, Belstaff and Boss.

The operations have been affected by lockdown-driven closures, and the sale to Frasers Group helps to face the huge pressure the sector is under.

Former Psyche boss Steve Cochrane, who run the business for 38 years, will become CEO of the store. He said it will carry out an appraisal over the next six to 12 months to decide "where Psyche fits into its retail offer. We sit between Flannels and House of Fraser with the brands we sell. Hopefully there will be a space for us."

Read IADS exclusive case study on Frasers Group to learn more on the business and on the group’s ambition.

Mike Ashley's Frasers Group buys Psyche

Frasers buys Psyche, founder to stay at helm

Related items:

• IADS Exclusive Business Case: Frasers Group
• Frasers in talks to buy Debenhams
• Frasers increases stake in Mulberry
• Frasers Group buys stake in Hugo Boss