Frasers ups Boohoo stake to 9.1%
The company has recently purchased an 11.1% stake in Currys alongside a stake in AO World worth £75m
Frasers has announced that it has increased its stake in fashion retailer Boohoo to 9.1%.
The latest increase takes the Mike Ashley owned company’s stake up from the previous 7.8% it owned.
The group had previously stated that Boohoo aligned with its strategy of building “supportive positions in attractive companies”.
Frasers said: “Boohoo is an attractive proposition to us with its laser focus on young female consumers. We see potential synergies and an opportunity to strengthen our own brand proposition in collaboration with Boohoo, most obviously with Frasers Group brands I Saw It First and Missguided.”
This news comes after Frasers also upped its stake in Asos last week, from 18% up to 19.3%.
Prior to this, the group also recently purchased a 11.1% stake in Currys followed by a £75m stake in AO World.
