Under the terms of the deal, Frasers Group will also be acquiring THG’s luxury brand portfolio including Coggles. Credit: Shutterstock

Frasers Group said the move to partner with THG would mutually enhance retail operations at both groups, aligning with Frasers Group’s Elevation Strategy.

The partnership includes the integration of customer credit and loyalty proposition, Frasers Plus into THG’s Ingenuity platform, benefiting customers across THG retail sites. This marks the first Frasers Plus partnership with an external partner.

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Frasers Group, which also owns House of Fraser and a significant interest in Hugo Boss, will also benefit from THG’s courier management services to drive the efficiency and performance of Frasers’ Australian fulfilment and logistics operations, supporting the Group’s international expansion.

Frasers Group will also be acquiring THG’s luxury brand portfolio including Coggles, strengthening its Premium and Luxury portfolio, alongside Flannels.

The transaction value was not disclosed.

Michael Murray, CEO of Frasers Group said: “Today we are pleased to announce a new strategic partnership with THG, which includes launching our consumer credit and loyalty proposition, Frasers Plus across the THG Ingenuity platform. This is an exciting step towards our Frasers Plus ambitions as we look to expand its offering across additional third-party platforms. We are looking forward to working with the THG team and unlocking further benefits for both businesses.”

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Matthew Moulding, CEO of THG commented: “We are delighted to be partnering with Frasers Group across a broad range of initiatives, in particular bringing Frasers Plus to consumers shopping with Ingenuity clients, as well as to our retail sites including Lookfantastic, Cult Beauty and Myprotein. Our luxury brand portfolio including Coggles has grown from a standing start eleven years ago, and we are eager to watch it develop further as an Ingenuity client. The success of Coggles has only been possible through the hard work and dedication of THG’s luxury team, to whom we all want to extend our thanks and gratitude.”

Earlier this month Sunderland-based Aphrodite announced its closure just months after Frasers Group acquired the independent UK menswear retailer.