Frasers raises Burberry stake to 7.4% in latest share purchase

Frasers has increased its stake in luxury fashion brand Burberry to 7.42%, as reported by Investing.com. This is the second time in recent weeks that the retail company, controlled by Mike Ashley, has expanded its position in Burberry. On September 30, Frasers disclosed a 6.32% stake in the brand, up from a previous 4.16%. The Mike Ashley-controlled retailer has a history of acquiring stakes in retail companies.

In August, Frasers acquired luxury department store Harvey Nichols from administration, and the company is also seeking to take over Hugo Boss. Neither Burberry nor Frasers commented on the increased stake. Last week, Frasers detailed its luxury sector strategy, expressing interest in expanding its Flannels department store chain in Europe and Harvey Nichols globally.