Frasers Group is launching three new Flannels stores in Leeds, Cardiff and Gateshead in 2023.
The retail spaces will all be upwards of 80,000sqft in size and feature a range of luxury fashion and beauty brands.
The multi-brand retailer, which was fully acquired by Frasers Group in 2017, has been growing its beauty offering in the UK over the past two years.
This saw the launch of a beauty-focused outlet at its new luxury shopping destination in Liverpool.
“Our plans to expand with a series of new experience-orientated flagships, demonstrates how we’re doubling down on our commitment to ‘new luxury’ and bringing world-class experiences to untapped markets,” said Michael Murray, Flannels Chief Executive.
“Our expansion plans not only demonstrate the confidence we have in our strategy, but they also show our continued belief in the future of the UK’s high streets, which through our stores, we aim to re-ignite.”
Frasers Group opened a trio of stores in Sheffield Meadowhall and Leicester Fosse Park last year.
This was followed by the opening of its Liverpool flagship in June 2022, with it being the largest investment into a store from the company.
The expansion to Flannel’s bricks-and-mortar portfolio comes after Fraser Group reported a record-breaking year for profits, despite significant increase in running costs.
The Mike Ashley-founded business saw profits before tax jump by £344.8m in the year to April 2022, compared with the £39.9m loss it posted the previous year.
The financial recovery was fueled by the reopening of stores following the end of the Covid-19 lockdown, as well as continued operating efficiencies.
Flannels stores drove particular growth for the group’s premium lifestyle category, which saw revenues leap by 43.6% to £1.056bn.
Murray, who took over as CEO of Frasers Group from Ashley in 2021, said at the time that he was “proud” of the group’s current progress.
“It's clear that our elevation strategy is working and we are building incredible momentum with new store openings, digital capabilities and deeper brand partnerships across all of our divisions,” he added.
