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Frasers Group increases stakes in N Brown and Currys

Mike Ashley’s Frasers Group has upped its stakes in fashion retailer N Brown and electrical retailer Currys.

In a statement published on the London Stock Exchange, Frasers’ increased its holding in N Brown from 17.6% to over 18%.

The parent company of House of Fraser and Sports Direct also increased its stake in Currys from 10.4% to 11%, respectively.

The move comes after N Brown recently posted an almost 10% fall in revenues in the first quarter.

The move follows Frasers recently making further investments in electricals etailer AO and acquiring fashion brands Studio Retail and I Saw It First, alongside a raft of non-core brands from JD Sports.

Last month Frasers also purchased a 5% stake in British fast fashion giant Boohoo, making it one of its major shareholders.

The move comes as Currys announced its partnership with Samsung UK to offer customers discounts on select products when trading in unwanted tech.

As a result, this month the company is offering shoppers between 10%-15% off over 390 of the brand’s products.

“By working together with Samsung, we have been able to pass on great savings to customers, whilst also encouraging more sustainable behaviours,” Currys chief commercial officer Ed Connolly said.

“At Currys we help everyone enjoy amazing technology, and we are uniquely positioned to help do this in an environmentally responsible way. By working with Samsung on a campaign that provides a further financial incentive for customers to take their e-waste into stores, we’re doing just that, and can’t wait to see the results.”

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N Brown Group’s brand Simply Be is ranked as a Top150 retailer in the 2023 RXUK Top500 report, whilst JD Williams and Jacamo are both ranked Top250 retailers. Find out where other retailers are ranked in the listing…

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