Join our community of smart investors

Frasers buys into Mulberry

Mike Ashley's group becomes Mulberry's third-biggest shareholder
Frasers buys into Mulberry

Frasers Group (FRAS) has taken a 12.5 per cent stake in luxury handbag business Mulberry (MUL), as Mike Ashley looks to bolster his links with high-end brands.

IC TIP: Sell at 269p

The stake, announced on 3 February, was worth around £19m based on Friday’s share price. Frasers Group, which rebranded from its previous guise of Sports Direct in December, said that it was motivated by “the elevation of our retail proposition and building stronger relationships with premium third-party brands”. It becomes Mulberry’s third-largest shareholder.