The Frasers Group, whose portfolio includes Sports Direct, Jack Wills and House of Fraser, has secured a 4.54 percent stake in British online retailer N Brown Group.
This is the latest in a series of investments Frasers Group has made in recent years.
The group is currently targeting an acquisition of Australian fashion marketplace MySale after becoming its largest shareholder in June.
The group also bought fast-fashion competitors I Saw It First and Missguided and British retailer Studio Retail earlier this year. This latest news follows Manchester-based N Brown Group’s first-half sales and profit declines in a difficult economic environment. The group, which owns the Simply Be and JD Williams brands, warned the pressure will continue into the second half of the year.
For the six months ended August 27, revenue fell 4.6 percent to £347.4 million (about $395 million), while adjusted profit before tax fell 82.4 percent to £4.3 million (about $4 .89 million euros) collapsed.
This translated post previously appeared on FashionUnited.uk.
