Former Sports Direct group buys 12.5% stake in Mulberry
04/02/2020
Established by Mike Ashley, Frasers changed its name from Sports Direct International at the end of 2019, as part of an effort to move toward more upmarket brands.
"A key strategic priority for Frasers Group is the elevation of our retail proposition and building stronger relationships with premium third party brands,” the group said in a statement, adding that this move should benefit shareholders of both companies.
No sale price was disclosed, but based on share price at the time, analysts estimate a price tag of £19 million (around $24.75 million).
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