Mike Ashley’s Frasers Group takes £10m stake in online retailer THG

Move is part of THG raising £95.4m to fund demerger of lossmaking technology arm Ingenuity

Mike Ashley’s Frasers Group has become an investor in online retailer THG as part of a near-£100m fundraising to spin off the lossmaking technology arm Ingenuity.

Frasers, which owns Sports Direct, Evans Cycles, the House of Fraser department stores, the luxury streetwear chain Flannels and multiple brands from Slazenger to Jack Wills, has made a strategic investment of £10m in THG.