- Huw Hughes |
Frasers Group has said it will not place an offer for Mulberry after the British luxury label was placed into an offer period last month when Frasers Group raised its stake to 36.8 percent.
Frasers Group first bought a 12.5 percent stake in Mulberry in February as part of the company’s efforts to reposition itself as more upmarket. It then upped its stake twice in November, ultimately leading to Mulberry entering an offer period and sparking speculation that Frasers Group could add it to its portfolio.
The group has said in the past that a “key strategic priority for Frasers Group is the elevation of our retail proposition and building stronger relationships with premium third-party brands”.
The company’s head of elevation Michael Murray said last month: “We are proud to show our commitment to this growing relationship between Mulberry and the Frasers Group by increasing our investment in this iconic British brand.”
The group, which owns House of Fraser, Flannels, Jack Wills and Evans Cycles, also bought shares in German label Hugo Boss this year.
Frasers Group, which has built its empire on snapping up other companies, is also thought to be in the race for Debenhams and Arcadia.
Chief Mike Ashley has previously said he wants Frasers to become “the Harrods of the high street”.
Photo credit: Mulberry