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.

Mike Ashley’s Frasers Group has tabled a £83m takeover of Mulberry and launched a tirade against its board after allegedly being shut out of discussions over a £10m fund raise. The retail giant, which owns a 37 per cent stake in Mulberry,

Luxury handbag maker Mulberry has received a takeover approach from Mike Ashley's Frasers Group. The offer values Mulberry, which has seen sales fall sharply following a downturn in the luxury sector,