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November 19, 2020

Frasers Group ups stake in Mulberry once again

Frasers Group, the owner of Sports Direct, Jack Wills and the House of Fraser brands, has once again increased its investment in premium fashion brand Mulberry.

By Beth Wright

Frasers Group, the owner of Sports Direct, Jack Wills and the House of Fraser brands, has once again increased its investment in premium fashion brand Mulberry.

The Mike Ashley-controlled business now has a 36.82% holding in the UK company, according to a filing issued today (19 November). Earlier this month Frasers Group significantly increased its stake from 12.54% to 29.61%.

Mulberry quit clothing and footwear in July and shifted its focus to its core leather category.

The company said the autumn/winter season would be the final one in which it sells ready-to-wear and footwear under license. Mulberry’s clothing had been produced under license by Onward Luxury Group (OLG).

In June, the group had announced it was launching a consultation process on proposals to reduce employee numbers by approximately 25% across the global business.

Meanwhile, Frasers Group acquired sports retailer and fitness business Dave Whelan Sports Limited (DW) from the company’s administrators for GBP37m (US$48.6m) in August. 

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