Frasers group are on a spending spree and have acquired a 28.7% holding in the Australian-based fashion marketplace, MySale. This bumps their stake up from 4.8% as acquired in 2019 and follows their increased stake in fashion brand Hugo Boss.
The company have not disclosed any information about the amount that they paid for the shares in MySale, a marketplace originally founded in Australia in 2007. Today the platform sells apparel and homewear to customers in Australia, New Zealand and Southeast Asia.
The Group believes this creates an opportunity for a strategic partnership whereby end of line Group products can be cleared via an established clearance channel. This pipeline will be further enhanced by the benefits of counter seasonality between the European and Australian climates.
– Frasers Group
Mike Ashley’s Frasers group pulled missguided out of administration for £20 million at the start of June. It was the first fast fashion retailer that the company would have under its belt. The clever running theme with Frasers group is that they have a collection of companies who sell goods from third-party brands, particularly apparel. Having a range of brands who cover a range of markets whilst selling a range of familiar brands gives the company more opportunities to tailor their offerings across the globe as and when needed.
The post Frasers group acquires stake in Australian marketplace MySale appeared first on ChannelX – formerly Tamebay.