British retailer and sportswear manufacturer Frasers Group has further increased its stake in fashion group Hugo Boss. Frasers now directly holds 4.9 percent of the common shares, the company said in a mandatory announcement by the London Stock Exchange. In addition, the group now has additional access to 26 percent of Hugo Boss via financial instruments. All in all, Frasers is committed to the Metzingen with a total of up to 900 million euros.
Frasers had repeatedly increased its stake in recent months, most recently in April, when the British reported a stake of 2.1 percent and options of 23.2 percent. Frasers describes the investment as “strategic”. Last year, the group rejected speculation that a takeover of Hugo Boss was planned. The largest shareholder in the German fashion group is the Italian Marzotto family, which, according to the latest information, holds a 15 percent stake through its companies PFC and Zignago. (dpa)