Continuing on in the path to secure larger stakes in its rivals, Frasers Group has once again upped its stake in fast fashion conglomerate Boohoo Group.
In its most recent increase, Frasers has taken its shares from 7.8 percent to 9.1 percent.
Frasers first snapped up a stake in Boohoo during June 2023, when it had also secured a 9 percent stake in electrical giant Currys as part of its efforts to build up a footprint in the electrical industry.
Meanwhile, its interest in Boohoo came as Frasers described the group as “an attractive proposition” with its laser focus on young female consumers.
At the time of its initial stake, the company said in a statement: “We see potential synergies and an opportunity to strengthen our own brand proposition in collaboration with Boohoo, most obviously with Frasers Group brands I Saw It First and Missguided.”
Rivals Frasers and Boohoo have been rapidly securing smaller or struggling businesses in recent years in a bid to expand their vast retail empires.
Frasers, which owns brands Sports Direct, House of Fraser, and Jack Wills, among others, reached an agreement in December to buy 15 brands from sportswear giant JD in a deal worth 47.5 million pounds.
It also this year acquired Missguided, Studio Retail, and I Saw It First, and has snapped up stakes in the likes of Asos, Hugo Boss, Mulberry, and N Brown.