Retail group Frasers has confirmed that it has submitted a non-binding offer to acquire the whole of leathergoods brand Mulberry.

Frasers Group first invested in Mulberry in 2020 and currently owns 37% of the company’s equity. It said it had submitted its offer to buy the remaining 63% of Mulberry after learning of a proposed new investment in the leathergoods brand by a Singapore-based investment group, Challice.

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