Frasers Group buys majority stake in The Webster, founder stays at helm

We’ve not heard much from Frasers Group on the acquisition front lately — which is unusual for such an acquisition-hungry business. But on Thursday it delivered some big-league news focused not on UK retail as usual but on the US.

UK-based Frasers is acquiring a majority position in The Webster from founder and CEO Laure Hériard Dubreuil and family. But we’re told Hériard Dubreuil will retain “a significant shareholding and continue to manage the business day-to-day, driving[it] through this next phase of growth”. 

The company also said the sale occurs at a “peak time for The Webster, with continued 10% revenue growth reported and an expanded retail footprint of 13 locations across North America, including the latest additions in Atlanta, Austin, and Las Vegas”.

For those who don’t know, The Webster is a major luxury multi-brand retailer founded in 2008. Its flagship location opened in 2009 at 1220 Collins Avenue in South Beach, Miami. Originally the Webster Hotel (hence the name), it’s housed in a 20,000 sq ft 1930s Art Deco building.

Heriard Dubreuil grew up in Paris and worked as a top merchandiser for Balenciaga and Yves Saint Laurent before launching the retailer.

Frasers Group already has major involvement in the luxury sector with businesses such as its wholly-owned Flannels chain and Gieves & Hawkes, as well as big stakes in Hugo Boss and Mulberry (and its ultimately abortive purchase of Matchesfashion). But it’s perhaps surprising that it has invested in a US business as its main luxury focus has tended to be the UK and Europe.

However, it said that “through this partnership, Frasers Group will lend its significant expertise in scaling luxury propositions, building upon The Webster’s successful growth and development while strengthening its digital and operational platforms, among others”. 

With its founder still running the show, The Webster will continue to operate as a standalone business, “retaining the aesthetic and exclusive brand positioning that has been its moniker since inception”.

As well as luxury, another thing the two businesses have in common is championing “brick-and-mortar retail, with the birth of The Webster coinciding with the 2008 market crash, defying all odds and demonstrating that consumers still value an in-person shopping experience”. 

Over the years, Hériard Dubreuil, along with her team, has cultivated strong relationships with key brands, including both heritage houses and emerging talents. To date, it carries over 100 brands, including Alaïa, Bottega Veneta, Chanel, Dior, Ferragamo, Gucci, Loewe, Miu Miu, Pucci, Rick Owens, Saint Laurent and The Row across all categories from Women’s, Men’s, Fine Jewelry, Home, and Beauty.

Michael Murray, CEO of Frasers Group, said of the deal: “I’ve long admired what Laure has built with The Webster – a truly unique concept with flawless execution and exceptional brand partnerships. This partnership marks an exciting new chapter for both The Webster and Frasers Group’s luxury division, Flannels.

“With our financial strength, operational expertise, and proven digital capabilities, it’s a perfect partnership to support The Webster to fulfil its potential. Equally, I look forward to learning from Laure and further elevating our own luxury portfolio. Together, we’re unlocking new opportunities for both The Webster and Flannels: a powerful alignment of ambition, expertise, and vision for the future of global luxury retail.”

And Hériard Dubreuil added: “In almost two decades, The Webster has grown far beyond my wildest dreams from the locations we have opened to the amazing brand partnerships we have been able to create during my tenure. The Webster is a part of me, our employees, our brands, our partners and our clients are family, many who have been with me since the early days. I am so grateful for the trust that this family has put in me and The Webster, without them none of this would have ever been possible. When it came to looking towards the future, it was so important to me to find a likeminded partner who believed in what [we] stood for. Our creativity, curation and customer experience, are what have allowed us to remain a fixture within a world of primarily digital retail. Since our first conversation, I knew that Michael and the Frasers Group team were completely aligned with our approach and would be the best partner to help take the business to the next level, bringing a renewed energy and digital innovation.”