Frasers Group is continuing its deep dive into the luxury sector. On Thursday it announced that it has increased its already-large stake in leather goods company Mulberry and could make an offer for the brand.
Premium online fashion platform Cudoni has secured £4.6 million backing from key international investors, claiming the amount is the largest ever raised for investment within a UK fashion resale business.
Frasers was hurt by lockdowns at the end of its latest financial year but said its results had been on target prior to this. And the company's elevation strategy is continuing with a new focus on web elevation too.
The struggling British fashion and accessories brand, which is axing its Paris and Hong Kong comms teams, is also on the verge of discontinuing its ready-to-wear and footwear licences from Spring/Summer 2021.
Mike Ashley's Frasers Group, formerly Sports Direct, has taken a 5.1% stake in German label Hugo Boss through stocks and derivatives, continuing his drive to take the British sportswear and apparel retailer upmarket.
The coronavirus crisis claimed thousands more jobs on Thursday as a deal was struck to sell the group comprising Oasis, Warehouse and smaller brand The Idle Man to Hilco Capital. Their stores aren't part of the deal.