Sports Direct to change name to Frasers

In a move that shouldn't really come as a surprise given the direction the company has been going in, Sports Direct on Monday announced that it would rebrand itself as Frasers Group.

The retail giant owns House of Fraser and is forging ahead with its plan to create a mini chain of high-end Frasers department stores and the company seems to think that the name change of the entire business will boost its overall image.

The name change isn't a done deal yet, as it will be voted on by shareholders in mid-December. But given the control that Sports Direct boss Mike Ashley has via his ownership of the largest chunk of the firm’s shares, it's a move that’s unlikely to be vetoed.

The name change will also be a sign that Ashley's plan for the Frasers chain is coming closer to fruition and the first Frasers store is expected to launch next year.

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