Mike Ashley’s Frasers circles Burberry in latest luxury swoopMike Ashley's Frasers has been pushing into luxury fashion in recent yearsMike Ashley’s Frasers Group is eyeing up a holding in Burberry as its latest push into luxury fashion. Frasers has revealed that it holds the rights to a 4.2 per cent stake in the British fashion house, which would make Ashley’s group one of its biggest shareholders. Mike Ashley’s group has garnered a reputation for making aggressive plays for control of rival retailers by taking large stakes and pushing for board positions. In 2024, Ashley’s group abandoned efforts to gain control of luxury bagmaker Mulberry, after it rejected bids of £83m and £111m. Frasers Group did not respond to a request for comment.