<\/p>\n
\n\tLONDON \u2014 Frasers Group has upped its stake in Burberry once again, raising it to 7.42 percent from 6.32 percent, according to a stock market filing on Monday.<\/p>\n
\n\tIt is the second time in a week the acquisitive group has increased its shares in the British brand, which have fallen by around 10 percent over the past six months, and by almost 13 percent over the past year despite a successful turnaround strategy and growing sales under chief executive officer Josh Schulman.<\/p>\n
\n\tBurberry\u2018s share price was up by 2 percent on Monday, trading at 10.44 pounds at 3:30 p.m. British Summer Time.<\/p>\n
\n\tLike other investors, Frasers moves when it sees opportunity, and also likes taking stakes in brands that supply the group. <\/p>\n
\n\tIt has certainly been busy of late. Over the summer Frasers bought Harvey Nichols out of administration, increased its stake in Hugo Boss to nearly 50 percent and installed its CEO, Michael Murray, as chairman of the supervisory board of the German company.<\/p>\n
\n\tIt had tried \u2014 and failed \u2014 to launch a full takeover bid for Boss, and said later in a stock market filing that its plan is to eventually gain majority control of the company.<\/p>\n
\n\tFrasers has also begun reorganizing its investments and last week, during Paris Fashion Week, unveiled Frasers Group Luxury, a portfolio of \u201cdistinctive luxury businesses, digital capabilities and investments with longstanding strategic brand partners at its core.\u201d<\/p>\n
\n\tThe new division, it said, \u201ccombines the expertise and reach of Frasers Group with the commercial discipline that underpins the wider business.\u201d The division includes retailers Flannels and Harvey Nichols in the U.K. and The Webster in the U.S. Frasers also listed its strategic investments in Burberry, Mulberry, Hugo Boss and Hulcan\u2019s Mile as part of the new division.<\/p>\n
\n\tFrasers Group is also the owner of Sports Direct, Evans Cycles and Gieves & Hawkes on Savile Row.<\/p>\n
#Frasers #Group #Raises #Stake #Burberry #Time #Week<\/p>\n","protected":false},"excerpt":{"rendered":"
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