Frasers ups stake in ASOS

In a significant move aimed at strengthening its e-commerce portfolio, UK retailer Frasers Group, known for owning well-established retail brands like Sports Direct and Flannels, has revealed its intention to enhance its investment in the renowned online fashion retailer ASOS.

The group’s ownership share in ASOS has been raised to 16.8 percent, up from the previous holding of 10.5 percent. This expansion of ownership was officially disclosed through a filing with the London Stock Exchange.

This strategic increase follows closely on the heels of Frasers Group’s initial investment in ASOS, wherein the company acquired a 7.4 percent stake in early June.

Frasers Group has displayed a proactive approach in augmenting its presence within the e-commerce fashion sector. Notably, this includes a recent surge in its stake in another prominent British online fashion giant, Boohoo Group. Reports from British media indicated that last week, Frasers Group raised its investment in Boohoo from 6.8 percent to 7.8 percent.