The Newshound

Mike Ashley's Frasers Group snaps up 8.8% stake in Under Armour while tightening grip on Burberry

From the Newshound archive · first published 7 October 2026 · last updated 8 October 2026.

Mike Ashley, whose Frasers Group has raised its Burberry stake to 6.3 per cent and acquired shares in Under Armour as part of an expanded luxury strategy.
Mike Ashley, whose Frasers Group has raised its Burberry stake to 6.3 per cent and acquired shares in Under Armour as part of an expanded luxury strategy.

The move places Frasers in Under Armour's top five shareholders, excluding CEO Kevin Plank's controlling position. Both acquisitions come days after Frasers unveiled a new luxury division encompassing Flannels, Harvey Nichols and The Webster.

Frasers CEO Michael Murray, Ashley's son-in-law, said the group aims to grow in luxury through 'organic expansion, acquisitions, and strategic investments'.

Burberry chief Joshua Schulman welcomed the move, praising Frasers' 'deep understanding of their customers' and its presence in major regional cities such as Leeds and Liverpool.

Frasers already owns almost 48% of Hugo Boss and is the second-largest shareholder in Mulberry, making it one of fashion's most aggressive corporate raiders.

MoreFinancial TimesMike Ashley’s Frasers Group snaps up stake in Under ArmourBloomberg.comMike Ashley’s Frasers Group Acquires 8.8% Stake in Under Armour - Bloomberg.comFashionNetwork USAFrasers Group builds stakes in Under Armour, Burberry - FashionNetwork USABusiness PostMike Ashley’s Frasers Group takes €70m stake in Under Armour - Business PostCity A.M.Mike Ashley’s Frasers builds stakes in Burberry and Under ArmourTraders UnionFrasers Group builds Under Armour stake as retail investment push expands - Traders UnionThe Business of FashionFrasers Group Acquires 8.8% Stake in Under Armour - The Business of Fashion
Read today's full feed at The Newshound →