Frasers Group lifts stakes in ASOS and Hugo Boss
Frasers Group has become the fourth largest shareholder in the ASOS online fashion retailer.
The Sports Direct and House of Fraser owner now holds 5% of the business after building up shares.
Frasers Group has recently acquired Studio Retail and online womenswear retailer Missguided. This morning, it also announced that it has increased its maximum exposure to premium fashion brand Hugo Boss to £840 million.
The company now holds 4.3% of Hugo Boss stock directly and an additional 28.5% through the sale of put options.
In a statement, the company said: “The strategic investments Frasers Group makes offer new opportunities for the company, whilst also helping to support the long-term future of the existing retail businesses, and the many thousands of jobs they sustain.”
It added: “Frasers Group has extensive ambitions to grow the business inside and outside of the UK and is constantly exploring the potential for further expansion.”
Frasers Group’s portfolio of brands also includes Flannels, Evans Cycles, Sofa.com, Game and Jack Wills.
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