Mike Ashley-owned Frasers Group has become the fourth-largest shareholder in online fashion retailer Asos and has raised its investment in Hugo Boss.
The company has bought up a number of UK retailers over the past few years spanning sportswear, fashion, furniture and bikes.
AJ Bell’s Russ Mould said: “Fresh from standing down from his day job at Frasers Mike Ashley is reportedly on manoeuvres, extending his stake in fashion brand Hugo Boss and taking a position in troubled online retailer ASOS. Clearly the retail kingpin is not done with the sector just yet.
“ASOS’ financial results revealed some significant problems for the business as spending by its core demographic dries up and the company faces rising costs and a more perilous balance sheet position, but Ashley clearly believes there is still value in the brand.”