Frasers Group Luxury launched 5 Oct during Paris Fashion Week: Flannels, Harvey Nichols, The Webster, stakes in Burberry, Hugo Boss, Mulberry; the 6.32% Burberry position is entirely sold put options with no shares; Hugo Boss 47.89%, aiming above 50%
Frasers Group is controlled by Mike Ashley. Its chief executive since 2022, Michael Murray, is Ashley's son-in-law, and on 16 September he also became chairman of Hugo Boss's supervisory board. Flannels runs 85 stores across the UK, and the division held its first evening in Paris during fashion week, for brand partners, designers and press.
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01IN A FILING ON 5 OCTOBER, FRASERS GROUP DISCLOSED A POSITION EQUAL TO 6.32% OF BURBERRY. IT HOLDS NO BURBERRY SHARES.
02THE WHOLE POSITION IS SOLD PUT OPTIONS. IF THEY ARE EXERCISED, FRASERS MAY END UP ACQUIRING THE SHARES.
03IT STOOD AT 3.05% ON 24 JULY AND 4.16% BY 27 JULY.
04ON 5 OCTOBER, DURING PARIS FASHION WEEK, FRASERS LAUNCHED A DIVISION CALLED FRASERS GROUP LUXURY.
05ITS SHOPS: FLANNELS AND HARVEY NICHOLS IN THE UK, THE WEBSTER IN THE US.
06ITS STAKES INCLUDE BURBERRY, HUGO BOSS AND MULBERRY.
07IN HUGO BOSS IT HOLDS 47.89%, AND SAYS IT WANTS MORE THAN 50%.
08HARVEY NICHOLS CAME TO FRASERS OUT OF ADMINISTRATION IN AUGUST. TWO OF ITS SIX STORES, BRISTOL AND LEEDS, ARE BECOMING FLANNELS.
09MICHAEL MURRAY, THE CHIEF EXECUTIVE, CALLS IT A PROFITABLE LUXURY BUSINESS OF MORE THAN 1 BILLION POUNDS, BUILT IN 10 YEARS.