Great British Billion-Pound Businesses

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13

Mike Ashley

Frasers Group

£2.8 billion

Mike Ashley

Job Title
Founder

Founding Age
18

Current Age
60

Education Level
Left school at 16

Previous Profession
Entrepreneur

Social Media Profile
LinkedIn

Frasers Group

Industry
Retail

Revenue
£5.5bn

Profit
£544.8m (adjusted before tax)

Founded
1982

HQ
Maidenhead, UK

Website
frasers.group

Starting out in 1982 with a £10,000 loan from his parents and a single shop in Maidenhead, Ashley had opened more than 100 sports shops by the end of the 1990s. But his Sports Direct chain was just the beginning for this high-street kingpin. Before long the retailer began buying well-known sports brands, including Dunlop Slazenger, Donnay and Lonsdale. While some of his peers have focused on websites, apps and social media, Ashley remains a passionate believer in bricks-and-mortar retail and its role in how UK consumers shop. Over the years he has snapped up a string of ailing high-street chains, including Evans Cycles, Jack Wills and Game. In 2018 he took control of House of Fraser, renaming his own group after the department store chain a year later. A member of the FTSE 100, there are now 1,500 stores within Frasers Group. Those close to him say Ashley is a master at spotting an opportunity and moving at speed. Well, he was a squash coach in his youth.

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