THG has agreed to sell its portfolio of luxury goods websites to Mike Ashley’s retail giant Frasers Group.

The brands sold include premium fashion retailer Coggles. THG acquired its online business out of administration in 2013, but the deal did not include its stores business.

However it opened a physical store in Alderley Edge, Cheshire in 2018.

THG says the luxury division has reached £43 million in annual sales and “broadly break-even” for FY23.

Post-disposal, it will continue to support the luxury portfolio across technology, digital marketing and fulfilment services via its Ingenuity platform.

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Meanwhile THG Ingenuity and Frasers Group have entered into a multi-year agreement including courier management services and re-platforming the Frasers Group’s Australian fulfilment and logistics operations.

Frasers Group’s credit and loyalty platform, Frasers Plus, has now been integrated into Ingenuity’s checkout process and will soon be available to both THG’s Beauty and Nutrition customers, as well as to Ingenuity clients.

The final part of the agreement will see a curated range of THG Nutrition’s Myprotein products to be launched inside Sports Direct stores.

Frasers Group acquired Matches for £52m in December 2023 and within four months had placed it into administration. A similar fate befell Aphrodite, Kids Cavern and Base Childrenswear following their acquisitions.

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