{"id":233641,"date":"2023-05-23T09:36:06","date_gmt":"2023-05-23T08:36:06","guid":{"rendered":"https:\/\/www.theindustry.fashion\/?p=233641"},"modified":"2023-05-23T18:13:50","modified_gmt":"2023-05-23T17:13:50","slug":"frasers-seeks-representation-on-the-board-of-mulberry","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/frasers-seeks-representation-on-the-board-of-mulberry\/","title":{"rendered":"Frasers seeks representation on the board of Mulberry"},"content":{"rendered":"
Frasers Group is reported to be seeking representation on the board of British luxury accessories brand Mulberry, in which it holds a 37% stake.<\/strong><\/p>\n <\/p>\n According to The Telegraph<\/em>, the British sports and fashion retail group, would like clarity from Mulberry on its operations in Asia. Mulberry is majority owned (56%) by Singapore's Challice Group, which has backed the brand for more than 20 years.<\/p>\n Challice is controlled by billionaire hotelier Ong Beng Seng and his wife Christina Ong. The chairman of Mulberry is Chris Roberts, who is also managing director of the Ongs\u2019 British hotel and retail company, Como Holdings UK.<\/p>\n It is understood that Frasers has sought clarification from Roberts about details of a deal Mulberry signed with Challice in 2017 to establish a joint venture to expand Mulberry in Asia with Challice taking a 40%. Frasers would like to know if the Ongs benefits from this deal in other ways, such as Mulberry renting property from Challice, and it is said the retail group is frustrated at what it perceives to be a lack of transparency.<\/p>\n Frasers is said to have put a request Roberts and Mulberry CEO Thierry Andretta to have representation on its board. This request has not yet been granted or declined.<\/p>\n