Finance
UK's Frasers Becomes Top Investor in Asos
Published by Global Banking & Finance Review®
Posted on March 23, 2026
2 min readLast updated: March 23, 2026
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Frasers Group has increased its stake in ASOS to 29.26%, overtaking all other investors to become the company’s largest shareholder. The Danish firm Bestseller/A/S, led by Anders Holch Povlsen, remains just behind.
Mike Ashley's Frasers becomes top investor in UK's ASOS, nears takeover threshold
Frasers Group Increases Stake in ASOS
Frasers Group's Stake and Takeover Threshold
March 23 (Reuters) - Britain's Frasers Group has increased its stake in ASOS to 29.26% from 28.42%, a filing showed on Monday, becoming the largest shareholder in the fast-fashion retailer and inching closer to the threshold for a takeover offer.
Under UK takeover rules, an investor is required to make a mandatory offer for a company once its stake reaches 30% of the voting rights.
Frasers Group's Investment Strategy
Mike Ashley's Retail Investments
British sportswear and fashion firm Frasers, owned by billionaire Mike Ashley, has substantial investments in multiple retailers, including Debenhams, AO World and Puma <PUMG.DE>. It has previously used its shareholdings to push for strategic changes or encourage companies to sell its products or adopt its services.
Company Responses
Frasers and ASOS did not immediately respond to emailed requests for comment.
ASOS's Business Outlook
Profit Forecast and Competition
Online retailer ASOS, which forecast 2026 profits below estimates in November, has been working to revive its appeal amid rising competition from Chinese rivals and to turn around its business through cost cuts.
Reporting Credits
(Reporting by Raechel Thankam Job in Bengaluru; Editing by Devika Syamnath)
Key Takeaways
- •Frasers Group’s stake in ASOS rose from 28.42% to 29.26%, making it the top shareholder as of March 23, 2026 (from Reuters filing).
- •Bestseller A/S, under Anders Holch Povlsen, remains a close second, with around 26–28% of ASOS, maintaining strong influence (as per LSEG data and ASOS background).
- •Frasers’ growing shareholding positions it one step closer to the 30% UK takeover threshold, which would legally require a formal bid to all shareholders.
Frequently Asked Questions about UK's Frasers becomes top investor in ASOS
1What percentage stake does Frasers Group now hold in ASOS?
Frasers Group now holds a 29.26% stake in ASOS.
2Who is the largest shareholder in ASOS?
Frasers Group is now the largest shareholder in ASOS.
3By how much did Frasers Group increase its ASOS stake?
Frasers Group increased its stake from 28.42% to 29.26%.
4When was the increase in Frasers Group's ASOS stake disclosed?
The increase was disclosed in a filing on Monday, March 23.
