The sale, valued at approximately $132.1 million based on Tuesday’s closing prices, reduces Frasers’ holding in Boohoo to just over 20%. This marks a notable retreat for the group, which previously maintained a stake of nearly 25% in the company.

This shift in portfolio focus coincides with Frasers securing majority control over Hugo Boss. Having pushed its ownership of the German apparel firm above 50%, the group confirmed last month that it intends to integrate the brand as a formal subsidiary. By thinning its position in Boohoo, Frasers appears to be clearing runway to prioritize the absorption of its new luxury acquisition.