Frasers Group has increased its exposure in Asos to 29.26%, after adding potential voting rights through financial instruments.

The Sports Direct owner topped up its interest in the ecommerce retailer by 5.9% through sold put options.

Frasers’ direct shareholding in Asos remains at 23.3%. The group has previously used its position to push for strategic changes.

The Flannels owner unsuccessfully pursued a takeover of Mulberry in 2024, and was engaged in a years-long public spat with Asos rival Boohoo, of which Frasers was the largest shareholder.

At the start of the month, Frasers became Puma’s second-largest shareholder after it acquired a 5.77% stake. 

The sports giant announced in a filing that Frasers had acquired the stake mostly through derivatives, financial contracts that are linked to the value of Puma’s shares.

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