Frasers Group buys I Saw It First
Frasers Group
615.50p
12:40 24/12/24
1.65%
10.00p
Frasers Group on Thursday said it was buying fast fashion firm I Saw It First for an undisclosed sum.
FTSE 250
20,571.51
13:00 24/12/24
n/a
n/a
FTSE 350
4,491.87
12:54 24/12/24
n/a
n/a
FTSE All-Share
4,449.61
13:14 24/12/24
n/a
n/a
General Retailers
4,640.03
12:54 24/12/24
-0.11%
-5.26
The Sports Direct owner, run by Mike Ashley, and now under the leadership of Ashley’s son-in-law Michael Murray, said it "looks forward to integrating I Saw It First, which today has over 5 million consumers, having rapidly grown its digital presence since its launch in 2017".
"I Saw It First will benefit from the strength and scale of Frasers Group's platform and from the integration with Frasers' recently acquired business, Missguided."
In recent weeks, Frasers has taken a 29% stake in Australia’s fashion platform MySale and boosted its stake in luxury German fashion brand Hugo Boss.
Reporting by Frank Prenesti at Sharecast.com