Frasers Group news and archive

Boohoo calls on shareholders to vote against founder’s board removal

Boohoo has once again called on shareholders to vote against a resolution to be brought forth in an upcoming general meeting requisitioned by Frasers Group. Set to take place 21 January 2025, the meeting will require shareholders to vote on whether or not to remove Boohoo founder Mahmud Kamani as a director of the business. In a new letter...

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Unwrapping in 2025 – Fashion giants tackle a challenging market: Acquisition and bankruptcy aftermath

From blocked merger attempts to widescale bankruptcies, 2024 has been somewhat of a rollercoaster for brands across all subcategories. FashionUnited takes a look at what is on the horizon as the biggest stories of this year continue to unfold into 2025. Head-to-head: Fashion giants tackle turbulent market A major merger at Saks and Neiman Marcus...

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Frasers to put forward new candidate for Boohoo representation

In the aftermath of Boohoo’s general meeting on December 20, when proposed candidates were declined a seat on the retailer’s board, Frasers Group has now released a statement noting the decision, yet reaffirming that it would continue pursuing representation. In a regulatory filing, the Sports Direct owner said it “respects the view of the...

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Tracing the Boohoo, Frasers debacle: A look at the ‘war of words’ between fast fashion’s biggest players

On Friday, December 20, the boardroom battle between the UK’s biggest fast fashion players, Boohoo Group and Frasers Group, came to a head. Boohoo shareholders agreed that Frasers would not, at this time, get board representation. The result came after what essentially developed into a public spat between the two groups, unfolding in...

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Boohoo shareholders deny Frasers’ board pursuit: Is the end in sight for the boardroom battle?

Shareholders of Boohoo Group have voted against the appointment of Frasers Group founder Mike Ashley and its proposed director, Mike Lennon, to the fast fashion giant’s board of directors. The decision was made during a general meeting requisitioned by Frasers, which had carried out a campaign to gain representation amid declining sales at...

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Frasers Group secures backing for Warwickshire headquarters

Fashion retail giant Frasers Group has received support for its new Warwickshire headquarters, despite concerns that it would damage the UK’s green belt. It is understood that the proposed 275-acre facility has been recommended for approval by planning officials, as reported by The Telegraph, with a 208-page document noting benefits that will...

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Boohoo stands firm in new letter to Frasers Group

In what is yet another response to another open letter issued by Frasers Group, Boohoo is remaining firm on its stance that its majority shareholder should not have its resolutions approved in the company’s forthcoming general meeting. In this latest filing, Boohoo specifically addresses Frasers’ most recent letter to the retailer’s...

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Frasers states Boohoo ‘grossly exaggerated’ conflicts as retailer cuts jobs

The war of words continues between Frasers Group and Boohoo, which are currently embroiled in a public dispute over boardroom control amid falling sales at the latter. Just hours after Boohoo announced that a proxy advisor recommended for shareholders to vote against Frasers’ proposals in the group’s upcoming general meeting, Frasers has issued...

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Boohoo gets further proxy backing in boardroom battle

Building on prior support from the Institutional Shareholder Services (ISS), Boohoo has now received backing from an independent proxy advisor in regards to its upcoming General Meeting, in which an anticipated boardroom battle is expected to ensue. Glass Lewis has offered its recommendation that Boohoo shareholders are to vote against...

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Frasers Group eyes takeover of Norway’s XXL ASA

In its continued pursuit of international expansion, Frasers Group has announced its intention to make a voluntary offer for all of the shares of Norwegian sporting goods retailer, XXL ASA. The proposed offer amounts to around 17 million pounds, and is expected to be made through a controlled subsidiary of Frasers, which already owns 25.8...

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What is going on at Boohoo? Espionage claims arise as boardroom battle continues

The past few months have been turbulent for Boohoo, to say the least. Yet, last week, things seemed to come to a head when claims of espionage arose at the fast fashion giant. According to a report by The Times, three current and former executives of Boohoo are believed to be the victims of stalking and surveillance. The alleged espionage is...

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Frasers Group reports decline in sales and profits in the first half of the year

The British retail group Frasers Group Plc has closed the first half of the 2024/25 financial year with losses in sales and earnings. The company also lowered its profit forecast for the current year on Thursday. In the 26 weeks up to October 27, group sales amounted to 2.54 billion British pounds (3.07 billion euros), a decrease of 8.3 percent...