Frasers Group, led by Mike Ashley, has once again raised its stake in the online retailer Boohoo, now holding nearly 10% of the company.
The fashion retail empire increased its shares in Boohoo from 7.8% to 9.1% on Thursday.
Frasers Group previously stated that its stake in Boohoo aligns with its strategy of building supportive positions in attractive companies.
The group finds Boohoo to be an attractive proposition due to its strong focus on young female consumers.
The group sees potential synergies and an opportunity to enhance its own brand proposition by collaborating with Boohoo, particularly with its brands I Saw It First and Missguided.
Furthermore, Frasers Group has increased its stake in Asos from 18% to 19.3% on Friday.
This news comes as Frasers Group reports nearly doubling profits for the fiscal year ending April 30, driven by various acquisitions made throughout the year.
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