British retailer and sportswear manufacturer Frasers Group has further increased its stake in fashion group Hugo Boss. According to a statement on Monday, Frasers now holds a total of 32.8 percent of the MDax group. Frasers holds 4.3 percent of the common shares directly and has access to an additional 28.5 percent through financial instruments. Overall, Frasers is committed to 960 million euros. The British had repeatedly increased participation in recent months, most recently at the end of September.
The Frasers Group has far-reaching ambitions to expand the business inside and outside the UK and is constantly evaluating the potential for further expansion, it said.
The Hugo Boss stake Frasers referred to as "strategically". Last year, the group rejected speculation that a takeover of Hugo Boss was planned. The major shareholder in the German fashion group is the Italian Marzotto family, which, according to the latest information, has a stake of around 15 percent through its companies PFC and Zignago.
