Sportswear tycoon Mike Ashley has failed to convince a majority of Boohoo’s shareholders to support his bid to join the board of the fast-fashion retailer.

British retail tycoon Mike Ashley has failed in his attempt to be appointed to the board of Boohoo after shareholders in the struggling online fast-fashion group voted against the move.

Frasers will propose a fresh candidate to join Boohoo's board, after the retailer's shareholders rejected the appointment of founder Mike Ashely last week.

Mike Ashley has lost his bid to become a board member of fast-fashion giant Boohoo, which is Frasers Group is the largest shareholder in. More than 63 per cent of votes were cast against the appointment of the billionaire at a general meeting in Manchester.

Mike Ashley has accused the leadership of Boohoo of engaging in “blatant hypocrisy” in their attempts to block the billionaire from gaining seats on the company’s board.

Boohoo shareholders deny Mike Ashley seat on board after boardroom battle - Frasers Group, which owns a 27% stake in Boohoo, had urged investors to appoint Mr Ashley and restructuring expert Mike Lennon.

Frasers Group and Mike Ashley have been locked in a public battle with Boohoo in recent months, and the billionaire has now suffered a blow after losing a vote to join the board

Boohoo chair Tim Morris said Mr Ashley is ‘not appropriate’ for a board seat because of ‘obvious conflict points’.

Boohoo Group Plc shareholders rejected billionaire Mike Ashley’s bid for board representation at the online fashion retailer after weeks of public fighting.