Frasers Group ups stake in Hugo Boss
Sports Direct owner Frasers Group has increased its stake in luxury fashion brand Hugo Boss to around £900 million.
The group said it now holds 3.4 million shares of common stock, representing 4.9% of Hugo Boss’s total share capital, as well as 18.3 million shares of common stock via the sale of put options, representing 26%.
The group said: “This investment reflects Frasers Group’s belief in the Hugo Boss brand, strategy and management team. Frasers Group continues to intend to be a supportive stakeholder and create value in the interests of both Frasers Group’s and Hugo Boss’ shareholders.”
In addition to Sports Direct, the group’s brand portfolio includes Frasers, House of Fraser, Evans Cycles, Jack Wills, 18 Montrose, Sofa.com, USC, Game and Flannels.
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