Just over a month on from when it last increased its holding in the company, Frasers Group has once again upped its stake in fast fashion giant Boohoo Group, taking its share in the company from 10 percent to 13.4 percent.
The British retail giant 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 electronics industry.
Since then, Frasers has continued to up its holding on the fashion rival, having previously taken its shares from 7.8 percent to 9.1 percent earlier in July.
At the time of its first stake, Frasers described Boohoo, which also owns Karen Millen, Nasty Gal and Prettylittlething, as “an attractive proposition” with its laser focus on young female consumers.
The company added 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.”
Frasers has been rapidly securing smaller or struggling businesses in recent years to expand its vast retail empire, previously acquiring the likes of Missguided, Studio Retail, and I Saw It First, and as well as stakes in Asos, Hugo Boss, Mulberry, and N Brown.