British retailer Frasers Group Plc has again increased its stake in Hugo Boss AG. As the company announced in a mandatory announcement on Thursday, it now holds 2.1 percent of the shares in the Metzingen fashion group directly and has access to a further 23.2 percent of the shares in the German clothing supplier via financial instruments. The Frasers Group currently put its “maximum total commitment” at Hugo Boss, including future premiums in connection with the put options held, at around EUR 715 million. In the calculation, the company used the Hugo Boss share price at the close of trading on Thursday.
The British group, which owns the sporting goods retailer Sports Direct, the department store chain House of Fraser and fashion brands such as Jack Wills and Flannels, affirmed its confidence in Hugo Boss’ entrepreneurial course, as it did after the previous share purchases: This investment reflects “the belief of the Frasers Group to the Hugo Boss brand, strategy and management team,” it said in a statement. “The Frasers Group continues to intend to be a supportive stakeholder and create value that is in the interests of both Frasers Group and Hugo Boss shareholders.”
The retail group acquired its first shares in Hugo Boss in June 2020 and has gradually expanded its involvement since then. However, the company had already made it clear in May last year that it did not intend to take over the German fashion house.