Pic: Mulberry
Mike Ashley’s Frasers Group recently raised its stake in British luxury handbang retailer Mulberry from 12.5 per cent to 29.7 per cent. It first purchased its 12.5 per cent stake in Mulberry in February this year. Mulberry already sells its products in House of Fraser stores. The group’s past Investments have included JD Sports, Tesco, French Connection and Debenhams.
The current decision was part of a ‘key strategic priority’ to elevate the group’s retail proposition and build ‘stronger relationships with premium third-party brands’.
“We are proud to show our commitment to this growing relationship between Mulberry and the Frasers Group by increasing our investment in this iconic British brand,” Frasers Group head of elevation Michael Murray was quoted as saying by British media reports.
“We have been working with Mulberry for a number of years in House of Fraser and are looking forward to launching Mulberry into Flannels in the coming weeks,” he added.
The group’s successful takeovers have been those of Evans Cycles, Game Digital, Sofa.com, Jack Wills and House of Fraser.
Fibre2Fashion News Desk (DS)
Mike Ashley's Frasers Group has raised its stake in luxury handbang retailer Mulberry from 12.5 per cent to 29.7 per cent. It first purchased its 12.5 per cent stake in Mulberry in February this year. Mulberry already sells its products in House of Fraser stores. The group's past Investments have included JD Sports, Tesco, French Connection and Debenhams.