Frasers reveals sizable stakes in Currys and Boohoo Group

June 20, 2023 08:19 AM PDT | By Invezz

Frasers reveals sizable stakes in Currys and Boohoo Group — Image source: Invezz

Frasers buys 101 million shares of Currys

On Tuesday, the British sports-fashion company announced an 8.9% stake in Currys in line with its strategy to invest in its retail peers.

That translates to about 101 million shares of the electrical and telecom products company. In its press release, Frasers Group said:

Our investment in Currys provides us with a valuable opportunity to build on our foothold in electricals industry as well as deepening the existing relationship between Currys and Studio.

In April, Frasers reported a record £340 million of profit before tax for its full financial year. The U.K. stock is still trading at roughly the same price at which it started 2023.

Frasers takes a 5.0% stake in Boohoo Group

Frasers also confirmed today that it has bought 63.5 million of Boohoo shares that has a stellar portfolio of thirteen notable fashion brands.

It’s stake in the Manchester-headquartered firm now sits at about 5.0%. According to Frasers Group:

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.

Its CEO Mike Ashley is convinced that these strategic investments will help drive growth moving forward. The news arrives only days after Frasers notched up a 19% stake in AO World – a retail chain that specialises in electrical items.

The post Frasers reveals sizable stakes in Currys and Boohoo Group appeared first on Invezz.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.