Mike Ashley reportedly returns to Frasers Group in consultancy role

Business tycoon Mike Ashley is believed to have returned to his founding company Frasers Group as a consultant amid the conglomerate’s ongoing acquisition spree.

Ashley, who stills owns 69 percent of the retail group, stepped down from the top position last year, later appointing his son-in-law Michael Murray as chief executive.

According to The Sunday Times, Ashley will now be advising the company on supply chain and operations, with the group understood to have taken legal advice to ensure the arrangement adheres to good governance.

His return comes as Frasers Group continues on a string of acquisitions, building up its portfolio of owned brands and stakes within both the fashion industry and beyond.

Last week, the company snapped up a 5 percent stake in fashion rival Boohoo, making it one of the group’s major shareholders.

The move was made alongside the purchase of a 9 percent stake in electrical giant Curry’s, which Frasers had described as a “valuable opportunity” to build on its foothold in the electricals industry.

Earlier this year, the group also upped its stake in struggling fashion e-tailer Asos, for which it now holds shares of almost 9 percent, a similar strategy to ones it has made for the likes of Hugo Boss, Mulberry and N Brown.