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The appetite of Frasers Group owner Mike Ashley seems far from satisfied: following previous investments in Mulberry and Hugo Boss, the group is now also announcing a stake in the British luxury brand Burberry.
Plans unclear
The British Frasers Group, owner of brands such as Sports Direct, Flannels, and House of Fraser, holds a potential 4.2% stake in Burberry’s voting rights. The company acquired this stake through the sale of so-called put options: if these are exercised, Frasers will enter the top ten of Burberry’s largest shareholders.
This is not the first surprising investment by billionaire Mike Ashley’s company. Frasers is the second-largest shareholder of handbag maker Mulberry and is also the largest shareholder of Hugo Boss. The group has even launched a takeover bid for the German fashion company.
It is unclear exactly what Frasers intends to do with its stake in Burberry: the company has declined to comment further. According to observers, it is a strategy to strengthen relationships with key suppliers. Frasers sells Burberry’s collections on its website and in Flannels stores.
