Frasers Group Takes Stake in Burberry
Mike Ashley's retail group acquires a 4.1% stake in the British luxury fashion house, signaling a further move into the high-end market.
Frasers Group, the retail conglomerate led by Mike Ashley, has acquired a 4.1% stake in the British luxury brand Burberry, according to a disclosure made on July 28, 2026. This move marks another step in Frasers' expansion into the luxury sector.
The FTSE 250 firm, which already owns retail chains such as Sports Direct and House of Fraser, also holds ownership in other luxury brands. These include the British fashion firm Mulberry, in which Frasers possesses a 37% stake, and the luxury brand Flannels. The company also owns Savile Row tailor Gieves & Hawkes and has a stake exceeding 30% in fashion brand Hugo Boss, with aspirations to acquire the remainder.
Burberry, known for its iconic trench coats and recently featuring U.S. model Kendall Jenner in its advertising campaigns, has faced challenges with declining sales. However, recent reports indicate that a turnaround strategy under CEO Joshua Schulman may be showing positive signs. Earlier in July, Burberry experienced growth across all its divisions for the first time since 2023.
Following the disclosure of Frasers' stake, Burberry's shares closed 5% higher on the day of the announcement. Frasers Group's shares also saw an increase, rising by 2.5%.