Under the leadership of Mike Ashley, Frasers Group has once again increased its ownership in the e-commerce platform Boohoo, now possessing nearly 10% of the corporation.
The fashion retail empire uplifted its stakes in Boohoo from 7.8% to 9.1% on Thursday.
Formerly, Frasers Group indicated that its share in Boohoo aligns with its approach of forming supportive positions in appealing companies.
The empire views Boohoo as a captivating opportunity due to its strong emphasis on youthful female consumers.
Recognizing potential synergies and a prospect to enrich its own brand proposition by collaborating with Boohoo, notably with its brands I Saw It First and Missguided.
Moreover, Frasers Group has expanded its stake in Asos from 18% to 19.3% on Friday.
This development arrives as Frasers Group reports nearly doubling profits for the fiscal year finishing on April 30, driven by various acquisitions completed throughout the year.
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