Frasers Group Increases Stake in Burberry to 7.42 Percent
Frasers Group raised its ownership of Burberry to 7.42 percent as part of an aggressive expansion into the luxury retail sector.
Retail conglomerate Frasers Group increased its stake in Burberry to 7.42 percent from 6.32 percent, marking the second time in one week the group has acquired more shares in the British luxury brand. The acquisition occurs as Burberry shares have declined approximately 13 percent over the past year, despite growing sales and a turnaround strategy led by CEO Josh Schulman.
This move is part of a broader aggressive expansion by Frasers Group, which recently launched Frasers Group Luxury. This new division incorporates retailers Flannels, Harvey Nichols, and The Webster, while managing strategic investments in Burberry, Mulberry, Hugo Boss, and Hulcan’s Mile.
The group has recently pursued other high-profile acquisitions, including the purchase of Harvey Nichols out of administration. Additionally, Frasers Group has increased its stake in Hugo Boss to nearly 50 percent, with CEO Chad Michael Murray serving as chairman of the Hugo Boss supervisory board.
