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Frasers Group Ramps Up Stake In Boohoo To 16.5%

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Frasers Group Ramps Up Stake In Boohoo To 16.5%

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Frasers Group once more increased its ownership in Boohoo as part of its ongoing “strategic investment” in the fashion retailer.
The retail conglomerate, already the primary stakeholder in the online business, has elevated its shares from 15.1% to 16.5%.
This move follows the group’s upping of its stake in Boohoo’s rival, Asos, last week to 23% from 22.7%.
In June, Frasers Group initially acquired a 5% interest in Boohoo, seeing the retailer as an “appealing proposition” due to its strong emphasis on young female consumers.
The company considered this investment an opportunity to strengthen its own brand proposition alongside the fashion retailer and its I Saw It First and Missguided brands.
Speculations of a potential takeover gained traction earlier this month when Chief Executive Michael Murray referred to the investments in Asos and Boohoo, as well as Currys and AO, as being “mid-flight”.
Murray explained to The Telegraph, “All I can do is talk about how it looks very obvious afterwards. [Luxury department store] Flannels was an acquisition, and now it seems normal that Flannels is part of Frasers Group. And Game, you think: why would you buy 30% of Game? Afterwards, it’s all very obvious.”
Image Source: Just Jus / Shutterstock

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