Gieves & Hawkes, one of the most famous names in tailoring, is back in British hands after being bought by Mike Ashley’s Frasers Group. The iconic business, with its main store at No 1 Savile Row, was sold to Ashley last November by the Hong Kong-based owner Trinity Group after it fell into administration at the beginning of last year. All five of Gieves & Hawkes’s UK stores will be part of the deal. Frasers Group, which already owns Sports Direct and House of Fraser, emerged as a potential buyer last September and sealed the deal for an undisclosed sum in November. Hong Kong conglomerate Trinity Ltd took over Gieves & Hawkes in 2012 but Trinity was subject to a winding-up petition for debt in September 2021. Michael Murray, chief executive of Frasers, said: “We are delighted to have acquired Gieves & Hawkes, securing a long-term future for an iconic 250-year-old brand. This acquisition further adds to our portfolio of strategic investments in luxury and premium brands.”

Gieves & Hawkes, which has held Royal Warrants since 1809, has made clothes for King Charles III, George VI and George V, as well as the princes William and Harry. It also dressed Lord Nelson, the Duke of Wellington and Winston Churchill. The firm moved to the Georgian townhouse at 1 Savile Row after Gieves acquired the Hawkes brand in 1974. Gieves was founded in 1785 and Hawkes in 1771.