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Frasers buys 29% stake in fashion marketplace MySale

Lauretta Roberts
30 June 2022

Frasers, the retail empire that spans House of Fraser, Flannels and Sports Direct, has continued its buying spree by snapping up an almost 30% stake in the Australian-based fashion marketplace MySale.

Frasers Group said it acquired a 28.7% shareholding in MySale, which connects buyers and sellers across the globe to e-commerce sites in Australia and New Zealand, for an undisclosed sum.

Frasers said the acquisition “creates an opportunity for a strategic partnership whereby end of line group products can be cleared via an established clearance channel”.

It added: “This pipeline will be further enhanced by the benefits of counter seasonality between the European and Australian climates.”

It marks the latest strategic investment for the retail giant after it increased its stake in luxury German luxury fashion brand Hugo Boss last week.

Frasers said it now has 3.4 million shares – a 4.9% stake – in Hugo Boss and holds buy options over another 26% shareholding, boosting the value of its investment in the fashion brand to around €900 million (£770 million).

It also holds a significant stake in British luxury brand Mulberry. It owns more than 30% of the listed business, which is the threshold that would normally trigger a takeover, however Mulberry already has a majority shareholder in Challice and Frasers had told the market it is not planning to make a bid for the entire company.

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