Sports Direct has announced that it is to rebrand as the Frasers Group, following a statement by its owner, Mike Ashley.
Ashley said the proposed rebrand will be discussed with shareholders and voted on 16th December.
Sports Direct said that the planned rebrand will show that the company is no longer just in the sports apparel market and will move into further retail industries.
Ashley said: “Once solely a leading international retailer in sports apparel, the company is now equally as successful in the lifestyle and luxury markets. With the enhancement of its retail proposition continuing to be a strategic priority, the proposed change in group name is central to the focused delivery of the company’s elevation strategy.”
The rebranding comes as part of plans for Sports Direct to rollout of a chain of luxury high street stores across the UK, named Frasers, which will include beauty, sports and luxury fashion brands.