Frasers Group, the UK-based retail powerhouse known for iconic brands is making significant strides to enhance its e-commerce presence and has revealed plans to amplify its investment in the renowned online fashion retailer, ASOS.
According to an official disclosure to the London Stock Exchange, Frasers Group has elevated its stake in ASOS to 16.8 percent, marking a notable increase from its previous holding of 10.5 percent.
Figure: UK retailer Frasers Group to enhance its e-commerce presence.
José Antonio Ramos Calamonte, CEO, Asos said, “We are delivering on our plan to turn the business around: to right-size our stock; to generate cash; to reduce our net debt; and to structurally improve our profitability.”
This strategic move follows closely on the heels of Frasers Group’s earlier investment in ASOS, wherein they secured a 7.4 percent stake at the start of June.
Demonstrating a keen interest in the e-commerce fashion landscape, Frasers Group has been actively expanding its footprint.
Notably, their growing involvement extends to another prominent British online fashion giant, Boohoo Group.
Recent reports from British media highlight Frasers Group’s augmentation of its stake in Boohoo, surging from 6.8 percent to a new holding of 7.8 percent.
The evolving investment landscape underscores Frasers Group’s commitment to shaping and influencing the dynamic realm of online fashion and e-commerce.
