// Frasers Group has taken a stake in a Manchester-headquartered N Brown Group
// N Brown’s brands include Simply Be, JD Williams and Jacamo
Frasers Group has snapped up a 4.54% stake in N Brown, according to newly-filed documents with the London Stock Exchange.
The retail giant founded by billionaire Mike Ashley has taken a stake in the Manchester-headquartered fashion group which owns brands including Simply Be, JD Williams and Jacamo.
Frasers Group, which is now run by Mr Ashley’s son-in-law Michael Murray, has acquired a number of brands in recent years, most recently Studio Retail Group which Frasers snapped up after it collapsed into administration.
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Back in June, it bought Missguided out of administration for £20million, beating off competition from Boohoo.
Last week N Brown saw its first half revenues and profits fall and warned of further pressures amid the cost-of-living crisis.
Chief executive Steve Johnson, said: “In a difficult period of weakening consumer confidence, we’ve balanced our objectives between disciplined trading – with a focus on upholding margin – and delivering on our long-term strategy to transform the business.
“Our teams have worked relentlessly to launch Simply Be’s new website, and early indicators give us confidence in the wider benefits for all our customers when we roll this out more widely across our other strategic brands.”
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