Jun 22, 2022

Frasers increases Hugo Boss stake to €900mn

Frasers Group has raised its stake in Hugo Boss to about €900mn in the latest move by the UK retailer to boost its exposure to the German fashion brand. The UK-listed retail company, known for its Sports Direct and House of Fraser brands, said on Wednesday that it had bought stock representing 4.9 per cent of Hugo Boss's total share capital. The company, founded by Mike Ashley, has also upped its stake through the sale of put options, amounting to 26 per cent of the German company. Frasers said the "Strategic" move reflected its "Belief in the Hugo Boss brand, strategy and management team". Frasers last increased its stake in Hugo Boss in April, when it bought shares worth 2.1 per cent of Hugo Boss and sold put options representing 23.2 per cent of the German company's total share capital.

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