Frasers Group – which is controlled by Mike Ashley – has raised its stakes in Boohoo and Asos.
The company, whose brands include Sports Direct, House of Fraser and Flannels, increased its shareholding in fast fashion retailer Boohoo from 13.4 per cent to 15.1 per cent.
It also upped its share in online seller Asos from 19.7 per cent to 22.8 per cent.
Frasers has been steadily building its holdings in Boohoo and Asos since the summer. It first invested in Boohoo in June when it took 5 per cent.
Fashion stakes: Shares in Boohoo, which also owns a host of brands including Karen Millen (fronted 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 with Boohoo, giving it scope for collaborations.
Frasers became the biggest shareholder in Boohoo 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 in the pandemic.
They gained 2.8 per cent to 30.35p yesterday. Asos has fallen 47 per cent over six months. They grew 2 per cent to 386.9p yesterday.
- Frasers is reportedly also set to acquire German retailer SportScheck from Signa Retail Department Store Holding in a deal that could be announced this week, Sky News reported
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