Mike Ashley-owned Frasers Group has raised its stake in online fashion retailer ASOS.
The group formerly known as Sports Direct has upped its ownership of ASOS from five per cent to 7.4 per cent as of 15 May. Frasers previously increased its investment in ASOS in October 2022, becoming its fourth-largest shareholder.
For Frasers, this represents a further move into luxury retail. The company owns around 2.6 per cent of Germany’s Hugo Boss, though that stake has been reduced from 4.3 per cent earlier this year.
The move comes a week after ASOS announced a first-half loss as a result of consumer spending cuts, with ASOS shares losing around 30 per cent in value over that time. The Topshop owner posted a loss of £87.4 million in the six months to the end of February, compared to a profit of £14.8 million in the same period last year.
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Poundland significantly reduces antisocial behaviour, aggression and shoplifting with Motorola Solutions VT100 body cameras
Retail should not be a high-risk occupation. As a company, we are focused on listening to our colleagues and customers to help them with the issues they are facing in-store and so far, the feedback on our body cameras has been excellent. They act as a great visual deterrent, help to de-escalate situations and overall, this project has significantly aided our goal to make the retail environment safer.
For further information on Motorola Solutions’ retail security products, including body cameras, click here.
For further information on Motorola Solutions’ retail security products, including body cameras, click here.
Supplying demand: how fashion retailers can meet the needs of customers and still be sustainable
The fashion industry is no stranger to breaking the mould and setting trends, but the pursuit of style can come at a huge cost to the environment.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
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