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.
Frasers Group has once again increased its stake in fast-fashion retailer Boohoo.
The group, which owns Sports Direct, House of Fraser and Flannels, among others, has upped its stake to 7.8% from 6.8%.
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The news comes as it was reported Frasers Group is to place over 100 jobs at the risk of redundancies at its Manchester-based office in a bid to cut costs and streamline its business.
The move is understood to be part of its efficiency drive across the firm as it continues its acquisition spree, following job cuts at its Shirebrook and London offices, which were announced last month.
Last month, Frasers said the ecommerce giant “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.
