Kaupthing Bank Luxembourg, a subsidiary of the Icelandic bank, is understood to have taken over Kevin Stanford’s 25.4% stake in Mulberry.
The circumstances of the share transfer are unclear. Stanford is reported to owe the Icelandic bank up to £250 million.
Mulberry issued a statement on the stock exchange this afternoon confirming that Kaupthing Bank Luxembourg had taken a shareholding in the company.
Kevin Stanford was not available for comment.
Kaupthing Bank Luxembourg could not be reached for comment.