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.
John Lewis has won the planning permission it wanted to allow it to convert almost half of its Oxford Street, London, flagship store into office space as part of its new strategy to return to sustainable profits.
Frasers Group is continuing its acquisition spree among distressed brands in the UK and while it’s reported to be interested in Debenhams, the company is also said to be looking at Jaeger, Austin Reed and Jacques Vert.
The list of potential bidders for Debenhams has got smaller with news that deep-pocketed Reliance Retail has dropped out. It's also been suggested that the owner of its Oxford Street store wants to break the lease.
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.