Frasers Group (LSE:FRAS) has agreed the acquisition of two UK outlet centres, York Designer Outlet and East Midlands Designer Outlet, as part of its drive to create a broader brand ecosystem across retail and property.
York Designer Outlet is a 250,000 sq. Ft centre just outside York city centre housing 120 UK and international brands with 4.3 million visitors a year, and East Midlands Designer Outlet is a 170,000 sq. Ft centre near the M1 offering over 65 designer brands and 3.5 million annual visitors, together enhancing the group’s property mix as the retailer and landlord executes its Elevation Strategy.
"Today, we own over one-fifth of the UK outlet market and have a clear ambition to grow our share further," Michael Murray, Chief Executive Officer.
