The group has acquired a 29 per cent stake in Australia-based fashion platform, MySale, which helps to connect global buyers with sellers to Australian and New Zealand e-Commerce sites.
According to London-based Frasers Group, the new holding will create ‘an opportunity for a strategic partnership whereby end of line Group products can be cleared via an established clearance channel.’
Alongside this acquisition, Frasers has increased its stake in upmarket German fashion brand Hugo Boss, holding a 4.9 per cent stake directly and a further 29 per cent of stock indirectly through the sale of derivatives known as put options.
Other recent acquisitions include troubled fast-fashion retailer Missguided, for £20M after it was put into administration following unpaid debts. The group also pursued a takeover campaign for collapsed department store chain, Debenhams in 2020.
Despite the news of this recent acquisition, shares in the group have dropped by 2.5 per cent according to reports from yesterday afternoon.
