The Frasers Group has announced that it has acquired a 28.7% holding in the Australian-based fashion marketplace, MySale plc, for an undisclosed sum.
MySale connects global buyers and sellers to Australian and New Zealand e-commerce sites.
The group said that this pipeline will be further enhanced by the benefits of counter seasonality between the European and Australian climates.
Frasers Group said: “The group believes this creates an opportunity for a strategic partnership whereby end of line group products can be cleared via an established clearance channel.”
The announcement comes as the group recently increased its stake in German fashion brand Hugo Boss last week (22 June). Frasers now has 3.4 million shares in Hugo Boss, representing a 4.9% stake, and holds buy options over another 26% shareholding.
The group said its investment in the fashion brand is now worth approximately €900m (£770m).