Frasers Group has increased its stake in Boohoo after shares drastically fell following its public spat between the fast-fashion retailer and beauty giant Revolution Beauty.
As a result, the Mike-Ashley-owned company has increased its stake from 5% to 6.7%.
According to the company, the move builds on its strategic investment into the fashion retailer after it acquired a 5% stake last month.
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Last month, 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”.
The move comes as Boohoo raised its stake in Revolution Beauty, despite its recent bitter public feud with the makeup giant.
The ecommerce giant, which has been ranked as a Top500 retailer, already sat as a majority shareholder of Revolution Beauty but has now increased its holdings in the business from 26.4% to 27.1%.
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Boohoo features in the RetailX 2023 UK Fashion Ecommerce Sector report, which features an analysis of how fast fashion chain Boohoo’s acquisition of Debenhams might not have been such a successful long-term move.
