The retail tycoon Mike Ashley has launched a bold attempt to become chief executive of Boohoo as he pushes for a possible merger between the troubled fast-fashion retailer and its rival Asos.
The proposal by Ashley’s Frasers Group would reshape the online fashion retail landscape, aiming to consolidate two of the UK’s biggest digital players while expanding his influence over the industry.
The group behind Sports Direct, House of Fraser and Flannels, which has a significant stake in both Boohoo and Asos, is thought to see value in combining Asos’s access to brands with Boohoo’s appeal to a younger demographic. It also sees it as an opportunity for Frasers Plus, its buy-now-pay-later service, The Times understands.
Both Asos and Boohoo have struggled following the arrival