
In a bourse update, Frasers Group, the owner of brands including House of Fraser, Sports Direct and Flannels, revealed it had taken a 4.54% stake in N Brown.
Frasers Group is currently in the running to acquire Australian fashion marketplace MySale.
Toward the end of last month the Missguided owner made a bid to acquire MySale for 2 pence per share, days after the latter’s shareholders were urged to reject a takeover bid on the basis it was unfairly valued.
The Group has been on an aggressive acquisition drive in recent months. In the fist half of June, it added its first fast-fashion pureplay to its roster by acquiring Missguided in a GBP20m deal.
Later in the same month, Frasers upped its investment in Hugo Boss, and now owns a 26% stake in the brand.