Mike Ashley's Frasers Group has increased its stake in fashion giant Boohoo.
According to a new filing with the London Stock Exchange, Mr Ashley's retail empire has upped its holdings in the Manchester-headquartered group from 5% to 6.7%.
The move comes after Frasers Group, which owns brands such as Sports Direct and House of Frasers, first invested in Boohoo last month.
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The increase cements Frasers Group's position as one of the largest single shareholders in Boohoo.
Co-founder Mahmud Kamani remains the largest shareholder while other investors include Camelot Capital Partners, T. Rowe Price International, FIL Investment Advisors (UK) and Norges Bank Investment Management.
Frasers Group also recently invested £75m in Bolton-headquartered electricals group AO before later increasing its stake to just over 21% to become its largest shareholder.
Over the last 18 months, Frasers Group has acquired Lancashire-headquartered Studio Retail as well as Manchester's Missguided out of administration.
It also bought Manchester-based I Saw It First while it has been building a sizeable stake in fashion group N Brown, which is also headquartered in the city. Its holdings in the company now stand at 19%.
In May, BusinessLive reported that Boohoo lost more than £90m during its latest financial year as the cost-of-living crisis squeezed shoppers.
The group posted a pre-tax loss of £90.7m for the 12 months to February 28, 2023, compared to a profit of £7.8m in the prior year and £92.2m in the period before that.
Its revenue also slipped from £1.98bn to £1.76bn over the year although the latest figure is still ahead of the £1.23bn it reported in 2020.
UK revenue fell 9% in the year but was still 61% higher than 2020's regional total. International revenue fell 13% but was up 22% on 2020.
