What: Frasers Group owners of House of Fraser department stores have increased their stake in luxury brand Mulberry

Why is it important: House of Fraser group is shifting upmarket first through the development of its Flannels luxury format and second through its interest in luxury brands. Acquiring brands gives more control over distribution and potentially allows a degree of exclusivity.

Frasers Group has a position called “head of elevation” who announced that the group is increasing its share of Mulberry to 29% after acquiring shares from Icelandic bank Kaupthing. Mulberry has been present in House of Fraser for some time. Frasers’ increased stake means almost nine-tenths of Mulberry stock is in the hands of Mike Ashley, owner of Fraser Group and Challice, the vehicle for Singapore’s Ong family, which owns 56%.

Frasers has also taken a stake in Hugo Boss, although most of that is held through option agreements rather than directly through shares.

Frasers lifts stake in Mulberry