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The Guardian - UK
The Guardian - UK
Business
Mark Sweney

Mike Ashley’s Frasers Group takes £10m stake in online retailer THG

THG Mike Ashley Frasers Group Frasers Ingenuity Matthew Moulding SoftBank
Person holding mobile phone with website of British e-commerce company THG on screen in front of logo.
THG had aimed to raise £75m through an equity raise, share placing and subscription offer but overshot that target by 27%. Photograph: Timon Schneider/Alamy

Mike Ashley’s Frasers Group has become an investor in online retailer THG as part of a near-£100m fundraising to spin off the lossmaking technology arm Ingenuity.

Frasers, which owns Sports Direct, Evans Cycles, the House of Fraser department stores, the luxury streetwear chain Flannels and multiple brands from Slazenger to Jack Wills, has made a strategic investment of £10m in THG.

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