‘Penchant for bling’: can Sports Direct’s Mike Ashley take a bigger slice of luxury retail?

Mike Ashley's company, Frasers Group, has been acquiring several luxury brands and retailers. The company recently bought Harvey Nichols, a Knightsbridge department store, out of administration. This purchase adds to Frasers Group's growing collection of high-end brands, which already includes a large stake in Hugo Boss, as well as stakes in Mulberry, Burberry, and the remains of Agent Provocateur.

Frasers Group also owns the Flannels and House of Fraser chains. The company's expansion into luxury retail has raised questions about its ability to create a coherent luxury empire. According to the Guardian Business, Ashley has a "penchant for bling" and has been snapping up entire brands.

The Business of Fashion notes that Frasers Group's portfolio of luxury brands continues to grow, with Harvey Nichols and an increased stake in Hugo Boss being added to its collection. The company's strategy for its luxury brands has not been detailed.

Brief written by urgent.news from Guardian Business, Business of Fashion — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.