Mike Ashley’s Frasers Group increases stakes in Boohoo and Asos
Frasers Group, controlled by Mike Ashley, has increased its stakes in Boohoo and Asos.
The company, whose brands include Sports Direct, House of Fraser and Flannels, increased its stake in fast fashion retailer Boohoo from 13.4 per cent to 15.1 per cent.
It also increased its stake in online retailer Asos from 19.7 percent to 22.8 percent.
Frasers has been steadily increasing its holdings in Boohoo and Asos since the summer. She first invested in Boohoo in June, when she took 5 per cent.
The stakes in fashion: Shares in Boohoo, which also owns a host of brands including Karen Millen (headed by Liz Hurley, pictured) are down around 50% in six months.
At the time, it said two of its own brands, I Saw It First and Missguided, had similarities to Boohoo, giving it scope for collaborations.
Frasers became Boohoo’s largest shareholder earlier this month.
Shares in Boohoo, which also owns a host of brands including Karen Millen, Oasis, Coast, Warehouse, Nasty Gal and Pretty Little Thing, are down around 50 per cent in six months and more than 90 per cent since peaking maximum during the pandemic.
Yesterday they gained 2.8 per cent to 30.35p. Asos has fallen 47 percent in six months. Yesterday they rose 2 percent to 386.9 pence.
- Frasers will also reportedly acquire German retailer SportScheck from Signa Retail Department Store Holding in a deal that could be announced this week, Sky News reported.