The British retail group Frasers Group Plc has acquired additional shares in the ailing fast fashion retailer Boohoo Group Plc in recent days. Frasers’ share has increased from 10.4 to 13.4 percent as a result of recent acquisitions, Boohoo announced on Friday.
Frasers Group acquired Boohoo in June as part of its aggressive investment strategy. The original five percent stake has since been increased several times.
However, things haven’t been going well for the Boohoo Group recently: on Tuesday, the company announced that in the first half of the current 2023/24 financial year there was a 17 percent decline in sales to 729.1 million British pounds (843.4 million euros). ) had to accept. The net loss rose by 52 percent to 22.3 million British pounds (25.8 million euros) compared to the same period last year.
