British sportswear group Frasers raised its stake in online fashion seller Boohoo to 9.1 percent from 7.8 percent, a regulatory filing showed on Thursday.
Frasers, formerly called Sports Direct and majority-owned by Mike Ashley, has previously described its stake in Boohoo as consistent with its strategy of building “supportive” positions in “attractive” companies.
The group also owns stakes in electrical retailers Currys and AO World, and upmarket brand Hugo Boss among others.
By Sarah Young; Editor: Kate Holton
UK’s Frasers Group Sees More Profit Growth This Year
British retailer Frasers Group expects profit to rise between 5 percent and 15 percent this year as its biggest brand, Sports Direct, benefits from a partnership with Nike and shoppers keep spending despite economic headwinds, it said on Thursday.