Frasers acquires stake in premium fashion brand

Shirebrook-based retail group Frasers has acquired a 12.5 per cent stake in struggling luxury fashion brand Mulberry.

The move is the latest in a series of high street swoops by Mike Ashley’s firm following the acquisitions of House of Fraser, Evans Cycles and Jack Wills in 2018 and 2019 respectively.

Frasers’ stake in Mulberry, which is known for its premium leather goods, is reportedly worth around £19 million.

In a statement, Frasers said: “A key strategic priority for Frasers Group is the elevation of our retail proposition and building stronger relationships with premium third party brands. Frasers Group looks forward to working more closely with Mulberry for the benefit of shareholders of both companies.”

The news comes after Frasers Group’s share price rocketed to a near four-year high in December.

The company, established by chief executive Mike Ashley in 1982, owns a variety of high street retailers including Game, Flannels and Sports Direct.