Frasers has increased its stake in Boohoo once again as it builds on its “strategic investment” into the fashion retailer. Mike Ashley’s empire upped its shares in the retailer from 9.1 percent to 10.4 percent last week.
Frasers previously described the retailer as an “attractive proposition” due to its “laser focus on young female consumers”. Moreover, Frasers also topped its stake in Asos, increasing its holding from 19.3 percent to 19.8 percent. The news comes as the retail group has seen profits nearly double for the year ending April 30, with turnover driven by acquisitions made throughout the year.
It is pertinent to note Fraser Group, Boohoo, and ASOS are three distinct companies in the retail industry, each with its own unique focus and business model.
Fraser Group is a British multinational retail conglomerate founded by Mike Ashley. It is known for its diverse portfolio of retail brands and investments in various sectors, including sports, fashion, and leisure.
The company owns and operates a wide range of retail brands, including Sports Direct, Flannels, House of Fraser, Evans Cycles, Game Digital, and more.
Fraser Group has a significant presence in the sports and leisure sector, selling sporting goods, athletic apparel, and footwear. It also has a growing presence in the fashion and luxury retail markets through its acquisitions.
Boohoo Group is also a British online fashion retailer known for its fast-fashion business model. It was founded in 2006 and has grown rapidly since then. The company owns several fashion brands, including Boohoo, PrettyLittleThing, Nasty Gal, Karen Millen, and Coast. Each brand targets a different segment of the fashion market.
ASOS (As Seen On Screen) is a British online fashion and cosmetics retailer founded in 2000. It is one of the largest online fashion retailers in the world. ASOS offers a vast selection of clothing, footwear, accessories, and beauty products for men and women. It focuses on offering a wide range of brands and styles to cater to a diverse customer base. ASOS has a global customer base and ships products to many countries, making it accessible to customers worldwide.
Frasers Group increases its stakes in Boohoo and Asos
