Frasers Raises Burberry Stake to 7.42% as Mike Ashley’s Group Expands Luxury Ambitions

London: British retailer Frasers Group has increased its stake in luxury fashion house Burberry to 7.42%, following an earlier increase at the end of September. The move comes as the Mike Ashley-controlled company widens its presence in the luxury sector.

Frasers had disclosed on September 30 that it held a 6.32% stake in Burberry, up from 4.16% previously. The entire holding is held through sold put options, with expiry dates in October 2026, March 2027 and September 2027.

The owner of Sports Direct is known for its aggressive acquisitions in the retail sector. In August, it bought the luxury department store Harvey Nichols out of administration, and it is also pursuing a takeover of German fashion house Hugo Boss.

Last week, Frasers outlined a luxury strategy, saying it saw opportunities to expand its Flannels department store chain across Europe and to grow Harvey Nichols internationally.

Burberry declined to comment, while Frasers did not immediately respond to a request for comment on the increased stake.