Frasers Group has topped up its stake in Boohoo once again as it continues to build on its “strategic investment” into the fashion retailer.
Mike Ashley’s retail group – which is the largest shareholder in the online business – increased its holdings from 15.1% to 16.5%.
It comes as the group raised its stake in Boohoo rival Asos last week to 23%, up from 22.7%.
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Frasers snapped up a 5% holding in Boohoo back in June, describing the retailer as an “attractive proposition” through its “laser focus on young female consumers”.
It said there we move presented “an opportunity to strengthen our own brand proposition” with the fashion retailer and its own ISawItFirst and Missguided brands.
Chief executive Michael Murray fuelled takeover speculations earlier this month when he described the group’s investments into Asos and Boohoo, as well as Currys and AO, as “mid-flight”.
Murray told The Telegraph: “All I can do is talk about how it looks very obvious afterwards.
“[Luxury department store] Flannels was an acquisition, and now it seems normal that Flannels is a part of Frasers Group. And Game, you think: why would you buy 30% of Game? Afterwards, it’s all very obvious.”
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