Key facts
- Frasers Group increased its stake in Hugo Boss to 47.89%.
- Frasers Group acquired over 17% of Hugo Boss.
- The acquisition cost Frasers Group more than €463 million.
- Hugo Boss's board rejected Frasers' initial takeover bid.
- Mike Ashley leads Frasers Group.
- Hugo Boss is a German fashion house.
Frasers Group, the retail conglomerate founded by Mike Ashley, has substantially increased its ownership in the German fashion house Hugo Boss. The group now holds a stake of 47.89% in Hugo Boss, after acquiring an additional 17.06% of the company's shares. This significant transaction involved an investment exceeding €463 million. The move by Frasers Group comes in the wake of Hugo Boss's board of directors rejecting the company's initial takeover bid. The increased stake underscores Frasers Group's persistent interest and strategic maneuvering within the Hugo Boss organization. This development marks a notable escalation in Frasers Group's pursuit of greater influence over the German fashion retailer.