The Mike Ashley-owned Frasers Group has acquired a stake in global handbag retailer Mulberry as part of what it calls the strategic “elevation of our retail proposition”.
In a statement on the London Stock Exchange this afternoon, Frasers Group said it had acquired a 12.5% economic interest in Mulberry Group, which it described as a “global luxury brand with a rich British heritage”.
Frasers Group said the acquisition was part of “a key strategic priority” being the “elevation of our retail proposition and building stronger relationships with premium third-party brands”.
It said it “looks forward to working more closely with Mulberry for the benefit of shareholders of both companies”.
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