When Mulberry released a handbag named after the model Alexa Chung, it became the must-have accessory for “it” girls and was credited with helping the luxury fashion brand emerge from the global financial crisis.

Ashley, who first made a run at Mulberry in late 2020, is making a cash offer worth 83 million pounds for the British B Corp accessories brand.

Mike Ashley’s Frasers Group PLC ($GB:FRAS) has set its sights on the British luxury handbag brand Mulberry Group ($GB:MUL) and made a conditional