Frasers is the second largest shareholder in Asos
Frasers Group – which is controlled by tracksuit tycoon Mike Ashley – has tightened its grip on Asos.
The retail giant, whose brands include Sports Direct, House of Fraser and Flannels, increased its control of the fast fashion business from 17.9pc to 24.1pc.
It has been building holdings in Asos as well as rival Boohoo since the summer.
In filings published yesterday, Frasers said it has increased its proportion of voting rights through financial instruments, raising its total control from 17.9pc to 22.3pc on January 4 and then again to 24.2pc on January 10.
Frasers is the second largest shareholder in Asos.
Online fashion businesses cashed in during the Covid lockdowns but have struggled in the years since.
Shares in Asos have fallen around 50pc over the past year. They rose 1pc yesterday, valuing it at £455m. Rival Boohoo has dropped around a quarter in the same period.
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