Belfast's House of Fraser is set to be rebranded to become part of a new luxury mini-chain.
It has been revealed that boss Mike Ashley plans to invest millions of pounds in turning up to seven of House of Fraser’s 50-plus stores into a new luxury mini-chain to be called Frasers.
The Guardian reports that suppliers have been informed he wants to divide the group into two divisions, with Frasers stocking more designer labels and House of Fraser catering to a more mass market audience.
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Belfast's flagship store in Victoria Square is set to be one of the seven stores to be transformed into a Frasers.
It is understood refurbishment work is due to start soon.
Suppliers have been told an announcement could come within weeks as Ashley sees an opportunity at the luxury end of the market where his existing Flannels chain has grown rapidly.
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But the Guardian added that the Sports Direct owner is keen to secure the backing of key brands and be sure his team have devised the right look and feel for the Frasers stores before going ahead.
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