Weekend Interview: Frasers Head of Property James France On Why The Retailer Is Investing Big In Physical Stores
This series gets into the heads of the decision-makers of CRE, the people shaping the industry by setting investment strategy, workplace design, diversity initiatives and more.
The retail sector can be a little obsessed with disruption and disrupters, but that usually relates to new players from the online and social media worlds.
Yet, arguably, a huge disrupter on the UK — and increasingly Ireland’s — high street over recent times has been Frasers Group, the umbrella company for a host of sports, fashion and luxury brands. It is one of the few retailers looking to expand its physical store footprint, while rivals pull back.
That multicategory empire now includes department stores Flannels and Frasers, sports specialists Sports Direct and Evans Cycles, fashion brands 18Montrose, Jack Wills and USC, plus Game and Sofa.com.
Originally under the auspices of controversial founder Mike Ashley, whose brusque no-nonsense style tended to polarise opinion, son-in-law Michael Murray is now CEO and he has pressed the green button on a dramatic upgrade of the company’s store estate.
The person charged with that project is Frasers Head of Property James France, with the direction of travel clearly signposted by a series of new city centre flagships under the Frasers and Flannels department store badges and its Sports Direct stores, particularly the jewel in its crown, the multimillion-pound Sports Direct on Oxford Street, London.
The store programme has gone under the ‘Elevation’ moniker and France has been driving the initiative through bringing bigger and bolder stores to market, and now overseeing the transformation of Dublin’s defunct former Debenhams store into an Irish flagship.
Speaking with Bisnow, France explains why being a retail contrarian in a challenging market has paid dividends and talks about what Frasers Group believes makes stores great.
Bisnow: As many others are deserting the high street, in recent years Frasers Group has jumped in with both feet. What do you know that everyone else doesn’t?
France: Well we’ve always been big believers in physical retail and continue to believe there will always be a place for this on the high street, especially for elevated stores like ours, which are increasingly digitally enabled and experiential.
We have been investing heavily in this belief, undertaking a robust refit programme, and opening of new stores in key locations throughout the UK, Europe and beyond. From this rollout of elevated stores, we know consumers demand a more interactive and engaging shopping experience, and the results so far have proven this to be the case.
Bisnow: As you say, Frasers Group made a conscious decision to upgrade its stores and set a much higher bar for new flagships. How did that decision come about and how was it pushed through the business?
France: Our new store concepts are all part of our ongoing elevation strategy and our purpose, which we say is to 'elevate the lives of many with the world’s best brands and experiences'. Our elevated stores bring a fresh, modern and sleek shopping environment — reflecting our new purpose and vision through physical space while providing the very best in brands and products. I'm really pleased that the new look and feel of our stores has continued to create positive reactions from both consumers and brands alike.
Bisnow: Online retailing enjoyed an enormous boost during the pandemic. Now that all Covid-related restrictions have been lifted for some time, do you think e-commerce has peaked?
France: To be honest, Frasers Group is actually investing in both physical and digital retail, to help generate omnichannel growth. However, the dominant channel for us remains physical stores as a touchpoint for our consumer. Our stores allow consumers to experience our brands first-hand, and as we continue to expand our store portfolio, we want to broaden that touchpoint to a wider audience.
Bisnow: Is your view that the problems besetting the department store sector are less to do with the format and more to do with execution and the brand offer?
France: As the group has consistently mentioned, one of the main barriers to keeping department stores open is the flawed business rates system [a buildings-related tax on physical retailers in the UK] which disincentivises innovation and investment into store fit-outs — at a time when I would argue physical retailing needs it the most.
However, that said we are investing in our Frasers concept, and have plans to open new stores in strong locations, where we have been able to achieve commercially viable deals where landlords value our proposition as a footfall driver thanks to our excellent retail offer.
Opening stores in units that have previously been home to the likes of [department store] Debenhams allows us to incorporate a multifascia offering with Frasers, and provide consumers with what we think is an unrivalled shopping experience.
Bisnow: A case in point, Frasers Group has acquired the former Debenhams in the north of the city’s core retail area. What can visitors and shoppers expect?
France: Dublin is a strategic market for the group, and this location, which is one of Ireland’s most sought-after, will allow us to grow our presence in the Irish market. Our flagships, alongside our smaller format stores, are a combination of the very best brands, experiences and product range.
Obviously, we’re really excited about opening a new Sports Direct on Dublin’s Henry Street in the very near future, which I’m sure will become a leading sportswear destination for our consumers in Ireland.
Bisnow: A lot has happened within the group. Which store to date are you personally most proud of, and why?
France: We’ve opened two flagship locations for Sports Direct so far [London and Birmingham], which have both exceeded expectations with brands and consumers. What we’ve been able to do with these stores is put together what we feel are the pinnacle of the Sports Direct offering and bring to life the brand’s vision in a physical space.
Since opening, Sports Direct Birmingham has performed really well — not only does it stock the world’s best sports brands, but it’s also home to [retail brands] USC, Game, Evans Cycles and a Belong Gaming Arena — making it a true sporting destination.
Bisnow: The retail industry has a habit of trotting out buzz phrases like ‘experience’, ‘retailtainment’, ‘customer centricity’. But what makes a store great as far as you are concerned?
France: Our stores are constantly evolving to keep up with consumer demands, and with each new opening, we try to incorporate more new and innovative features. So as retail evolves it’s really exciting to see how digital innovation can make the high street experience more engaging for shoppers.
So for me, digital innovation, the world’s best brands, an unrivalled product offering, and the right location are ultimately what’s crucial for a successful store.
Bisnow: How did you get into retail and what would you tell your younger self?
France: After a thoroughly enjoyable and varied start to my career working in corporate restructuring at a chartered surveyor’s firm in Leeds, I got the opportunity in 2016 to work at what I saw as one of Britain’s largest and most successful retailers, just at the start of their ‘elevation’ journey. And what’s more, that would ultimately require property to play a pivotal role in the execution of the strategy, and that’s just how it turned out — and I haven’t looked back since!
Looking back, I would tell my younger self ‘well done for working so hard’, it didn’t seem quite worth it at the time, but it has subsequently paid off in spades to get to experience all I have in life so far.
Bisnow: And what is your weekend routine or favourite weekend activity?
France: For me, it’s trying to make sure I hit both Saturday and Sunday at my local CrossFit gym, trying to make up for the working week’s lack of activity! After that, I have to admit that I’m a sucker for the latest binge-watch series, and currently that’s Yellowstone.
