British retail conglomerate Frasers Group is formalizing its luxury ambitions.

The company has launched Frasers Group Luxury, a division that brings together U.K. retailers Flannels and Harvey Nichols with Miami-founded multibrand store The Webster. Frasers marked the launch Oct. 5 with its first luxury event during Paris Fashion Week, according to Vogue Business.

Building the portfolio

Frasers describes the division as a platform for strategic brand partners, designed to connect labels with new audiences and markets while supporting their global growth.

The group acquired The Webster about a year ago and Harvey Nichols in August. It has since purchased the Harvey Nichols buildings in Edinburgh and Manchester, with Manchester set for a refurbishment next year, and plans to convert the Bristol and Leeds stores to Flannels.

Harvey Nichols’ Knightsbridge flagship. Image credit: Harvey Nichols

The Webster is slated to open a flagship in Bal Harbour in November, and Frasers has bought the retailer’s South Beach and SoHo properties for future investment.

Alongside its stores, Frasers holds a 47.89 percent stake in Boss, where Mr. Murray chairs the supervisory board, as well as stakes in Mulberry and Burberry. Flannels alone now generates more than £1 billion in annual revenue.

Frasers’ acquisition of Harvey Nichols from administrators in August, a deal reportedly worth $54 million, added six U.K. stores and more than 1,000 employees to the group (see story).