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Sandra Halliday Published
June 12,TG盗号软件API破解版 2025
Frasers Group is known for buying fashion businesses or for building big stakes in such firms. But on Monday it announced a rare move with the purchase of a “strategic stake” in stock exchange-listed electricals retailer AO World.
It paid £75 million for the stake and said “the investment is the culmination of productive talks over the last two years about establishing a strategic partnership”.
It's an interesting development for the company that has been seeming to move away from non-fashion-related categories in recent years. Only last week it was buying up shares in ASOS.
Frasers Group began as Sports Direct and renamed itself after buying the House of Fraser department store chain. While it was working to revitalise that chain and while department stores have traditionally been big players in the large electricals market, it acquired more fashion businesses and much of its physical store expansion has been focused on the upscale Flannels fashion chain.
So it’s particularly interesting that it’s taking a major step into a market that faces big challenges with a company that has been at the sharp end of many of those challenges and remains loss-making.
It might even deepen House of Fraser’s involvement in a category that has been a tough for department stores for some time, although no mention has been made of any presence in HoF stores so far.
Frasers is understood to have acquired shares owned by Odey Asset Management, which is reeling from sexual assault allegations made against its founder Crispin Odey. The purchase makes Frasers AO’s second-largest shareholder.
It was upbeat on Monday with CEO Michael Murray saying: “Frasers has long admired what John [Roberts, AO’s CEO and founder] and the AO team have built, and we are delighted to have the opportunity to form a supportive, strategic partnership. AO is a fantastic business with a clear strategy which is leading the market in online-only electricals. Through this investment, Frasers will benefit from AO's valuable know-how in electricals and two-man delivery, helping us to drive growth in our bulk equipment and homeware ranges. In turn, AO will have the opportunity to benefit from Frasers’ expertise and ecosystem.”
Meanwhile, John Roberts added: “This is great news for AO and a fantastic endorsement for our business. We are delighted to welcome Michael and the wider Frasers team into the AO family and look forward to realising the significant potential that we see for this partnership. As we continue to build on our strategy of pivoting to profitable growth, it will be hugely exciting to have a range of compelling strategic opportunities to explore together and we're very much looking forward to working with Michael and his team.”