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UK's Frasers amplifies investment in ASOS with increased 16.8% stake

09 Aug '23
1 min read
Pic: David Cardinez / Shutterstock.com
Pic: David Cardinez / Shutterstock.com

Insights

  • UK-based retailer Frasers Group has increased its stake in online fashion retailer ASOS to 16.8 per cent from 10.5 per cent, according to a London Stock Exchange filing.
  • The move follows the company's recent growth in holdings in the e-commerce sector, including an increase in its stake in Boohoo Group from 6.8 per cent to 7.8 per cent last week.
In a significant move to bolster its e-commerce portfolio, UK retailer Frasers Group, the owner of prominent retail brands such as Sports Direct and Flannels, has announced an increase in its investment in the renowned online fashion retailer, ASOS. The group has raised its stake in ASOS to 16.8 per cent, up from 10.5 per cent previously, according to an official filing with the London Stock Exchange.

This strategic acquisition comes just a few months after Frasers Group's initial investment in ASOS, wherein the company held a 7.4 per cent stake at the beginning of June.

Frasers Group has been active in expanding its holdings in the e-commerce fashion sector. This includes a recent boost in its stake in another British online fashion giant, Boohoo Group. Last week, Frasers Group increased its investment in Boohoo from 6.8 per cent to 7.8 per cent, according to British media reports.

ALCHEMPro News Desk (DP)
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