Frasers Group’s stake in British online fashion retailer ASOS has reached almost 20%, according to regulatory filings published on Monday. Frasers disclosed on Monday that it had increased its stake in ASOS to 19.92%, up from 18.84% previously. Frasers, which also owns the Sports Direct, House of Fraser, and Flannels chains, first disclosed a holding in ASOS in September 2021. Since then, it has consistently increased its stake in the online retailer, leading to speculation that it could be preparing a takeover bid. However, Frasers has repeatedly denied any plans to make an offer for ASOS. In a statement released on Monday, Frasers said that it had no intention of making an offer for ASOS and that it viewed its shareholding as a long-term investment. ASOS’s shares initially fell on the news of Frasers’ increased stake but later recovered. The company’s shares are currently trading at around £12.50, down from a high of £60 in 2021. ASOS has been struggling in recent months due to a number of factors, including the rising cost of living, supply chain disruption, and increased competition from other online retailers. The company has also been criticized for its handling of sustainability issues. In February, ASOS reported a loss of £31.9 million for the six months to the end of January. The company said that it was facing a number of challenges, including the war in Ukraine, inflationary pressures, and a consumer shift towards value. However, ASOS said that it was confident in its long-term growth prospects. The company said that it was investing in its technology platform and expanding its product range. ASOS also said that it was committed to improving its sustainability performance. Frasers’ increased stake in ASOS is likely to raise further questions about the company’s intentions. However, Frasers has denied any plans to make an offer for ASOS and has said that it views its shareholding as a long-term investment..
Frasers Group’s ASOS Stake Reaches Almost 20%
