Sports Direct International plc is set to rebrand as Frasers Group to reflect its “changing profile” and “elevation strategy”.
The sporting goods retailer’s rebranding is expected to take place following shareholder agreement on 16 December.
In May HoF revealed it is planning to change 31 stores into a premium chain under the Frasers name over the next five years, starting with five in 2020. The new stores will be modelled on luxury department store chain Flannels, which is also owned by Sports Direct.
In a statement, the company said: “The choice of the new brand reflects the elevation strategy encompassing the group as a whole and is therefore a fitting reflection for the company in the future.”
Sports Direct opened its first store in 1982. The group now has around 29,400 staff across six business segments: UK Sports Retail, Premium Lifestyle, House of Fraser Retail, European Sports Retail, Rest of World Retail, and Wholesale and Licensing.
Earlier this month, Sports Direct said it will not buy any more distressed retailers until politicians introduce better protection for shareholders.