Mike Ashley’s Frasers Team, previously recognised as Sports activities Direct International, is documented to have bought a 12.5% stake in British luxurious purse corporation Mulberry.

The retailer announced it experienced bought the shareholding as part of a “key strategic priority” to reposition the vogue team toward “premium 3rd-social gathering brands”, The Guardian claimed.

The sale price was not disclosed, but when the transaction took location, it would have been value just underneath £19m, dependent on its share price at the time.

Previous 7 days the retailer announced it experienced settled a tax dispute with Belgian authorities that have been investigating the group’s movement of goods as a result of the country.