STRATEGIC INVESTMENTS IN BOOHOO AND CURRYS

Driving growth through strategic investments is a core part of Frasers' DNA. Under Michael Murray's leadership, we continue to build on our long track record of establishing supportive shareholder positions in attractive retail companies. We have a clear strategy to identify opportunities to invest in businesses which complement our existing sport, premium and luxury businesses, or help us to build and further utilise our sector-leading ecosystem.

Boohoo is an attractive proposition to us with its laser focus on young female consumers. We see potential synergies and an opportunity to strengthen our own brand proposition in collaboration with Boo Hoo, most obviously with Frasers Group brands I Saw It First and Missguided. 

Our investment in Currys provides us with a valuable opportunity to build on our foothold in the electricals industry as well as deepening the existing relationship between Currys and Studio, with the potential for further collaboration between the two. Through this investment, we also believe Currys will benefit from Frasers' deep retail know-how and our sector-leading ecosystem.