Frasers Group lifts Boohoo stake to 16.5%

Mike Ashley’s Frasers Group lifted its stake in fast fashion retailer Boohoo again on Wednesday.

The stake was upped to 16.5% from 15.1%.

In an announcement in June, Frasers said: "Boohoo is an attractive proposition to us with its laser focus on young female consumers.

"We see potential synergies and an opportunity to strengthen our own brand proposition in collaboration with Boohoo, most obviously with Frasers Group brands I Saw It First and Missguided."

Frasers - which owns Sports Direct, House of Fraser, Flannels, Evans Cycles and Jack Wills, among others - has also built stakes in Asos, AO World, Currys, N Brown and Hugo Boss.