Frasers Group raises investment in Hugo Boss

Mike Ashley's Frasers Group has increased its stakes in German luxury fashion brand Hugo Boss again, announcing that it currently holds more than 30% of the firm’s stock.

The Group told investors in a stock market announcement that it now owns 3.425 million shares of the brand's common stock, representing 4.9% of total share capital.

It also has ‘put options’ representing another 26% of the company, which adds up to a holding valued at around £770 million (€900 million).

Frasers first acquired a 0.2% stake in Hugo Boss in June 2020, along with 4.7% of options. The investment had grown to a 2.1% holding, with put options covering another 23.2% this year.

In April, the Group has increased its investment in Hugo Boss for the second time in a month to own 1.5 million shares of common stock, representing 2.1% of Hugo Boss's total share capital.

In a press release, Frasers 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."