Frasers Group, the owner of Sports Direct, Jack Wills and the House of Fraser brands, has significantly increased its investment in premium fashion brand Mulberry.
The Mike Ashley-controlled business now has a 29.61% holding in the UK company, according to a filing issued yesterday (3 November). This is up from 12.54% previously.
The move comes just months after Mulberry quit clothing and footwear 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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