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Frasers Group lifts ASOS stake to more than 20%

Sophie Smith
16 October 2023

Frasers Group has once again upped its stake in ASOS as the business continues its investment spree.

The owner of the Sports Direct and Flannels has increased its shareholding in ASOS to 22.7%, from 19.6% previously.

It first began investing in the online retailer last autumn and has been gradually snapping up shares since.

ASOS is just one of a number of businesses that Frasers has been investing in as the group expands its empire.

It has just upped its stake in Boohoo, less than two weeks after becoming the firm’s biggest single shareholder.

The group also currently holds shares in Hugo Boss and Mulberry, plus built up a stake in electrical retailers Currys and AO World earlier this year.

Frasers, majority owned by Mike Ashley, said earlier this year that investments are "a core part" of the company’s DNA.

Read's feature on Is Frasers Group trying to fashion an online mega-merger with ASOS and Boohoo?

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