Frasers ups BooHoo stake to 6.7%

Frasers Group has upped its stake in BooHoo to 6.7 per cent according to an updated London Stock Exchange holdings filing.

The move solidifies the Mike Ashley-helmed group’s position as one of BooHoo’s biggest stakeholders after it announced a five per cent stake worth £22 million in the Manchester-headquartered fast fashion retailer last month.

Upon securing the five per cent stake in BooHoo, Frasers described the company as an “attractive proposition” due to its “laser focus” on younger women consumers.

Frasers also recently announced it was upping its initial nine per cent stake in electronics retailer Currys to over 11 per cent, while also increasing its stake in fast fashion retailer Asos to nearly nine per cent.

Additionally, the company acquired a £75 million, 18.9 per cent stake in electronics retailer AO World after two years of talks, which was subsequently increased to 21 per cent.

Reports recently emerged that Frasers has offered nearly £50 million to purchase an outlet shopping centre near Castleford on the outskirts of Leeds.

Junction 32, which is currently owned by the largest commercial property development company in the UK, is a shopping centre which spans 250,000 sq ft and currently contains outlet locations for over 90 brands ranging from Nike and Levi's to M&S and The Body Shop.

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