// Mike Ashley’s Frasers Group increases its stake in luxury handbag retailer Mulberry from 29.7% to 36.8%
// Challice Limited holds around 56% of Mulberry’s issued share capital
Mike Ashley’s Frasers Group has increased its stake in luxury handbag retailer Mulberry from 29.7 per cent to 36.8 per cent.
The news comes after Frasers Group bought a 12.5 per cent shareholding in the handbag and accessories brand in February, as part of a “key strategic priority” to elevate its retail proposition.
When the transaction took place, it would have been worth just under £19 million, based on its share price at the time.
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The retail group then increased its stake from 12.5 per cent to 29.7 per cent on November 3.
Challice Limited holds around 56 per cent of Mulberry’s issued share capital.
Mulberry set up a new vehicle with Singapore-based investment firm Challice in 2017, to drive growth in Asia.
In October, Ashley’s Frasers Group opened a new “game-changing” multi-fascia store in the Cascades Shopping centre, in Portsmouth.
Going against the grain of the majority of retailers who are looking to reduce their exposure to bricks and mortar stores, the 51,000sq ft shop features Frasers’ new premium design.
It is also the first to house Sports Direct, USC, Evans and GAME, as well as a Belong Gaming Arena, all under one roof.