British retailer Frasers Group Plc has taken a stake in another venture. On Thursday, the group announced that it had acquired a 28.7 percent stake in Australian e-commerce specialist MySale Plc. The company operates a number of online marketplaces for discounted products in Oceania and Asia. Items are offered in various categories, including fashion, household goods and cosmetics.
With the investment, the group says it wants to create the opportunity to build a strategic partnership with MySale in order to maintain an already established sales channel for the sale of remaining items from its own stocks. The retailer is also hoping to “take advantage of the opposite seasonality of the climate in Europe and Australia”.
The Frasers Group thus continues to rely on an active investment strategy. The parent company of retail chains such as Sports Direct and House of Fraser already holds substantial minority stakes in well-known companies such as the German fashion retailer Hugo Boss AG and the British leather goods specialist Mulberry Plc. The group also recently acquired the trademark rights of the insolvent fast fashion provider Missguided.