Albert Frère invests in a British luxury brand

13/03/2017

Belgian billionaire and businessman Albert Frère has acquired 3% of the shares of the British luxury brand Burberry through his holding GBL, which he jointly owns with the Desmarais family. This acquisition, announced on 28 February, has allowed Burberry to make its best showing on the stock market since May 2015.

GPL (Groupe Bruxelles Lambert), a holding run by Albert Frère, a billionaire from Charleroi, has garnered notice in recent years thanks to a number of investments in various industries. Recently, GBL acquired 3% of shares in the luxury brand Burberry. This investment represents around 260 million euros, and was officially announced in the London stock market. Since then, the British Burberry group saw its shares jump by 5.9%.

GPL has not commented on this investment. This comes as little surprise, with the holding being known for its discretion. According to press reports, the GBL group also acquired 3% of shares in Hugo Boss several days prior.  Hugo Boss then saw a 6% boost in the value of its shares on the Frankfurt stock market. None of this new information has ever been officially confirmed by GBL, however.