THE WHAT? Frasers Group has announced that it is upping its stake in Asos. An official filing with the London Stock Exchange shows that the owner of Flannels has increased its share from 10.5 percent to 16.8 percent.
THE DETAILS The transaction is the latest in a series of share purchases that have been logged throughout July and August this year. At the start of June 2023, Frasers purchased a 7.4 percent stake in the online fashion retailer.
THE WHY? The move appears to be part of a wider strategy to invest in fashion e-commerce; Frasers holds a 7.8 percent stake in Boohoo Group.