Continuing its acquisitive streak, Frasers Group, the parent company of Sports Direct, has further increased its stake in Boohoo, the online fashion retailer. With this latest move, Frasers Group now owns a total of 11.1% of Boohoo’s shares, up from the 9.8% it held previously..
The news of Frasers Group’s growing stake in Boohoo has generated speculation about the company’s intentions. Some analysts believe that Frasers Group could eventually launch a takeover bid for Boohoo, while others suggest that it may simply be seeking to strengthen its position as a major shareholder..
Frasers Group has a history of acquiring stakes in other retailers, including Debenhams, House of Fraser, and Evans Cycles. In recent years, the company has been led by Mike Ashley, a controversial figure who has been accused of bullying suppliers and mistreating staff..
Boohoo is a fast-growing online fashion retailer that has become popular with young shoppers. The company has been praised for its affordable prices and its wide range of products. However, Boohoo has also been criticized for its labor practices, including allegations of poor working conditions in its overseas factories..
The increase in Frasers Group’s stake in Boohoo is likely to be seen as a sign of confidence in the company’s future prospects. However, it remains to be seen what Frasers Group’s ultimate intentions are towards Boohoo..
In a statement, Frasers Group said that it .
