The Frasers Group has again increased its stake in fast fashion conglomerate Boohoo Group, continuing on its path to grab bigger stakes in its rivals. With the recent increase, Frasers increased its stake from 7.8 percent to 9.1 percent.
Frasers first acquired a stake in Boohoo in June, when it also secured a 9% stake in electronics giant Currys as part of its efforts to establish a presence in the electronics industry. Interest in Boohoo came about when Frasers described the group as “an attractive offer ” as it focuses on young female consumers. At the time of the initial investment, the company stated, “We see potential synergies and an opportunity to strengthen our own brand offering in collaboration with Boohoo, particularly with the Frasers Group brands I Saw It First and Missguided.”
Rivals Frasers and Boohoo have been quick to acquire smaller or struggling businesses to expand their massive retail empires in recent years. Frasers, which owns Sports Direct, House of Fraser and Jack Wills among others, agreed in December to buy 15 brands from sportswear giant JD Sports in a deal worth £47.5million (about €55.5million).
That year Frasers also acquired Missguided, Studio Retail and I Saw It First. The group is also increasing its stakes in companies such as Asos, Hugo Boss, Mulberry and N Brown. It was only this week that she increased her stake in the Bitish fashion retailer Asos.
This translated and edited post previously appeared on FashionUnited.uk.