Frasers, the British sportswear group controlled by Mike Ashley, has raised its stake in online fashion retailer Boohoo to 16.5 per cent, according to a regulatory filing published yesterday. The group previously held 15.12 per cent. Frasers, formerly called Sports Direct, said in June its purchase of Boohoo shares was consistent with its strategy of building "supportive" positions in "attractive" companies. Earlier this month Boohoo reported a first half loss and downgraded its full year revenue outlook. Frasers has also built a 23 per cent stake in Boohoo's UK rival Asos.

Reuters

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