// Frasers Group acquires a 28.7% holding in Australian fashion marketplace MySale
// Frasers did not divulge any financial terms relating to the deal
Frasers Group has acquired a 28.7% holding in Australia-based fashion marketplace, MySale for an undisclosed sum.
The retail giant said it believes the acquisition of MySale creates an opportunity for a strategic partnership that will allow end-of-line products to be cleared via an established clearance channel.
The FTSE 250-listed company added that the pipeline will be further enhanced by the benefits of counter-seasonality between the European and Australian climates.
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Frasers did not divulge any financial terms relating to the deal.
Last week, the group upped its stake in luxury fashion brand Hugo Boss.
The Sports Direct-owner now holds 3.4 million shares of common stock, which represent 4.9% of Hugo Boss’s share capital, and 18.3 million shares of common stock via the sale of put options, representing a further 26% stake.
Frasers Group values its total stake in Hugo Boss, including the put options, at approximately £770m.
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