By Jillian Deutsch | Updated on Oct 12, 2026 at 03:29 PM
Frasers Group Plc increased its stake in Burberry Group Plc, putting it on track to be the brand’s biggest investor in billionaire Mike Ashley’s latest bet on a rival.
Frasers now has 7.42% of Burberry’s voting rights, according to a regulatory filing on Monday. The position was acquired through the recent sale of put options, which if exercised would make Frasers the largest investor in the British fashion label.
Read More: Frasers Group Takes a Position in UK Luxury Brand Burberry
The move comes as Chief Executive Officer Joshua Schulman tries to turn around Burberry, including by reducing prices and focusing on its signature trench coats and scarves. It also fits Frasers’ growing focus on luxury, after recently becoming the largest investor in Hugo Boss AG .
Still, luxury brands overall are facing a difficult market as wealthier customers cut back on luxury products and the conflict in the Middle East dampens spending. Burberry shares were down 19% this year through Friday’s close. They rose as much as 1.6% in London on Monday.
Frasers was founded by Ashley, who controls more than two-thirds of the company, but is run by his son-in-law Michael Murray. It has a reputation for shaking up European retailers, and is the second-largest shareholder in Mulberry Group Plc after a previous takeover attempt.
Read More: Ashley’s Frasers Group Acquires 8.8% Stake in Under Armour
Frasers declared an 8.8% stake in Under Armour Inc. last week, signaling a new push into the US market for the owner of Sports Direct.