Sportswear retailer Frasers Group, which is run by outspoken British businessman Mike Ashley, is to create a "significant number" of Irish jobs with the opening of two new stores in the Republic.
The stores will be the first for the group here, and will open at Mahon Point Shopping Centre in Co Cork and Whitewater Shopping Centre in Co Kildare. Both centres are owned by German fund Deka, and were previously occupied by Debenhams.
Frasers Group head of global leasehold property James France said the opening of both stores would bring “a significant number of jobs”.
Mr France said the new sites mark “a pivotal moment” for the group as it demonstrates its “commitment to bricks and mortar” as well as its desire to invest in Irish retail.
Savills Ireland retail director Peter O’Meara said the deals were “a huge boost” to the market. “They demonstrate that despite a challenging retail market, centres which dominate their trade area will continue to attract the best retailers,” he said.
“The positive impact on both shopping centres will be significant, as Frasers will bring a widened product offering – in a new modern fit-out – which will boost footfall to the benefit of all retailers in situ.”
Whitewater Shopping Centre is one of Ireland’s largest shopping centres outside of Dublin. It features a range of international brands such as Marks and Spencers, Zara and H&M, and hosts more than 60 leading retailers including River Island, Boots and Skechers.
Mahon Point Shopping Centre is Munster’s largest shopping destination. It offers a range of more than 60 high street stores, restaurants, and cafes, as well as a 13-screen cinema and additional leisure facilities.
Frasers said the two stores would feature a range of beauty, fashion, premium and contemporary accessories, designer childrenswear, as well as a “world-class” beauty hall.
“Opening later this year, each store will boast the very best in sports brands with an unrivalled selection for men’s, women’s and kids and will include sections dedicated to disciplines such as running, football and outdoors,” the group added.
Opening early 2022
Frasers said a Sports Direct will also operate within both new stores. The openings will be phased, with Sports Direct set to open later this year, and Frasers set to open in early 2022. The stores occupy about 150,000sq ft combined.
Mr Ashleywill next year step down as chief executive of the group which he founded nearly 40 years ago, giving up the role to the partner of his daughter.
Frasers Group, formerly called Sports Direct, said last week its board was in talks with regards to “transitioning” the chief executive role from Ashley to Michael Murray, the group’s current “head of elevation”, over the course of the 2021-22 financial year.
Ashley, who is also owner of Premier League soccer club Newcastle United, founded the company in 1982 and retains 64 per cent of its equity. He held the title of executive deputy chairman when Sports Direct floated in 2007 until 2016.
Ashley’s long-stated desire is to make Frasers the “Selfridges of sport”, emulating the status of the London department store.
The deal for the two Irish stores was brokered by Peter O’Meara and Kevin Sweeney from Savills, acting for Deka, with Karl Stewart of Cushman and Wakefield acting for the tenant.
