Mike Ashley’s Frasers Builds Stake in Struggling Brand Puma
Puma Speedcat trainers on display in a Puma SA store in London.
Photographer: Betty Laura Zapata/BloombergFrasers Group Plc has taken an interest in Puma SE as British billionaire Mike Ashley speculates on a turnaround of the German sports brand.
In the latest wager by Ashley, who has a record of taking positions in firms and then seeking change, Frasers has built up exposure to Puma worth almost €200 million ($232 million) based on its current share price.