Frasers Group buys stake in Mulberry | News

Mike Ashley’s Frasers Team, previously acknowledged as Sporting activities Direct Intercontinental, is noted to have bought a twelve.five{cbf6da10fac2230370cea9448ed9872290737d25c88b8c8db3eefaf8c399e33d} stake in British luxury purse firm Mulberry.

The retailer announced it had bought the shareholding as section of a “key strategic priority” to reposition the fashion group towards “premium third-social gathering brands”, The Guardian claimed.

The sale value was not disclosed, but when the transaction took put, it would have been value just underneath £19m, primarily based on its share value at the time.

Past week the retailer announced it had settled a tax dispute with Belgian authorities that were investigating the group’s motion of products by the nation.