Mike Ashley’s Frasers Group tightens grip on beleaguered Asos

On Jan 16, 2024

Updated: 12:40, 16 January 2024

Frasers is the second largest shareholder in Asos

Frasers Group – which is managed by tracksuit tycoon Mike Ashley – has tightened its grip on Asos.

The retail large, whose manufacturers embrace Sports Direct, House of Fraser and Flannels, elevated its management of the quick style enterprise from 17.9pc to 24.1pc.

It has been constructing holdings in Asos in addition to rival Boohoo because the summer season.

In filings revealed yesterday, Frasers stated it has elevated its proportion of voting rights by means of monetary devices, elevating its whole management from 17.9pc to 22.3pc on January 4 after which once more to 24.2pc on January 10.

Frasers is the second largest shareholder in Asos.

Online style companies cashed in in the course of the Covid lockdowns however have struggled within the years since.

Shares in Asos have fallen round 50pc over the previous 12 months. They rose 1pc yesterday, valuing it at £455m. Rival Boohoo has dropped round 1 / 4 in the identical interval.

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