Sports Direct ponders name change
Sports Direct International, has announced plans to rebrand itself as Frasers Group.
The retail group, which has a market value of £1.8bn, said it was seeking to elevate its image beyond the sportswear which was the company’s core product group.
Shareholders will vote on the name change at a general meeting in London on 16th December. The company requires 75 per cent of the votes cast at the meeting to change the name, but Mike Ashley owns 65 per cent of the shares.
The group added a number of struggling retailers over the last 18 months including a £90m deal for House of Fraser, plus Evans Cycles, Sofa.com and Game Digital.