The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
British sportswear group Frasers raised its stake in online fashion seller Boohoo to 9.1 percent from 7.8 percent, a regulatory filing showed on Thursday.
Frasers, formerly called Sports Direct and majority-owned by Mike Ashley, has previously described its stake in Boohoo as consistent with its strategy of building “supportive” positions in “attractive” companies.
The group also owns stakes in electrical retailers Currys and AO World, and upmarket brand Hugo Boss among others.
By Sarah Young; Editor: Kate Holton
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UK’s Frasers Group Sees More Profit Growth This Year
British retailer Frasers Group expects profit to rise between 5 percent and 15 percent this year as its biggest brand, Sports Direct, benefits from a partnership with Nike and shoppers keep spending despite economic headwinds, it said on Thursday.
The Japanese apparel chain will be launching its sister brand GU in the US later this year, targeting younger consumers with lower prices and a curated selection of trendy wares.
Canada, France and Ireland are among the countries working with home-grown fashion talent to create uniforms for their teams at this summer’s Olympic Games. For these small labels, it’s an unprecedented opportunity to capitalise on one of sports’ largest events.
The online fashion retailer plans to update China’s securities regulator on the change of the initial public offering venue and file with the London Stock Exchange as soon as this month, a person with knowledge of the matter said.
The company, under siege from Arkhouse Management Co. and Brigade Capital Management, doesn’t need the activists when it can be its own, writes Andrea Felsted.