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The Guardian - UK

Business

Sarah Butler

Mike Ashley’s Frasers Group buys 5% Boohoo stake in online shopping spree

Mike Ashley Frasers Boohoo Frasers Group Currys AO Asos Sports Direct Michael Murray Debenhams

The online fashion group Boohoo has struggled with renewed competition as high streets reopened after lockdown. Photograph: Justin Tallis/AFP/Getty Images

Mike Ashley’s Frasers Group has bought a £22m stake in the fashion group Boohoo as the high street retail tycoon makes a flurry of investments in online retail.

The group, which owns Sports Direct and the designer fashion retailer Flannels, added the 5% stake in Boohoo on Monday shortly after announcing it had built a 9% stake in the electrical goods retailer Currys in the past week. Ashley has a long history of snapping up ailing brands, from House of Fraser to Everlast.

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