Mike Ashley’s Frasers Group has continued its shopping spree for North West-based fashion and ecommerce brands with the acquisition of a 4.54 per cent stake in Manchester’s N Brown.
Frasers’ purchase of the N Brown shares, filed with the LSE today, comes after they took a dive after the company issued a warning on revenue due to the “uncertainty around macroeconomic conditions” caused by the cost of living crisis last week. Shares in the company at one point fell 17 per cent to their lowest level since mid-2020. N Brown’s brands include Simply Be, JD Williams and Jacamo.
The former Newcastle United owner’s Frasers Group already owns fashion giants Sports Direct and House of Fraser. In 2022 it has been on a flurry of activity in the North West. In February it acquired Lancashire-based Studio Retail Group after it collapsed into administration owing more than £80m.
Then, in July it acquired Manchester-based online fashion brand Missguided for £20m after it also entered administration.
Also in July, Frasers acquired I Saw It First, also based in Manchester, for an undisclosed fee.
