The British retailer Frasers Group Plc has secured additional shares in the Metzingen-based fashion group Hugo Boss AG. As the company announced in a mandatory announcement on Tuesday, it now holds 4.5 percent of the shares in the German clothing retailer directly and has access to a further 13.7 percent of shares in Hugo Boss through financial instruments.
The group, which includes the sporting goods retailer Sports Direct, the department store chain House of Fraser and fashion brands such as Jack Wills and Flannels, acquired a stake in Hugo Boss in June 2020 and has gradually expanded its stake since then. In May last year, however, the Frasers Group made it clear that it was not planning to take over the German fashion house.
Even in the most recent statement, the retailer showed no change of heart: “This investment reflects Frasers Group’s confidence in the Hugo Boss brand, strategy and management team. 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.