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Frasers ups stakes in online clothing retailers Asos and boohoo

16th Oct 2023 12:05

(Alliance News) - Frasers Group PLC has lifted its stakes in online clothing retailers Asos PLC and boohoo Group PLC, according to filings on Monday.

The Sports Direct owner increased its holding in Asos to 22.8% from 19.7%, and raised its stake in boohoo to 15.1% from 13.4%.

Both online fashion businesses have suffered share price declines over the past year, arguably providing an attractive buying opportunity. Shares in Asos have fallen 26% in the past year, while boohoo shares have lost 23%.

Asos was up 1.9% at 386.80 pence around midday on Monday, while boohoo was up 1.6% at 30.00p. Frasers was flat at 801.00p.

By Heather Rydings, Alliance News senior economics reporter

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