Mike Ashley's Frasers Group increases investment in Hugo Boss for a second time in a month

Mike Ashley's Frasers Group has increased its investment in Hugo Boss for the second time in a month, now holding 16 million shares of common stock via the sale of put options, representing a 23.2% stake of Hugo Boss's total share capital.

The group said the investment reflected its "belief in the Hugo Boss brand, strategy and management team."

The move means that Frasers owns 1.5 million shares of common stock, representing 2.1% of Hugo Boss's total share capital.

Taking into account the new shares valued at the closing share price on 7 April 2022, Frasers Group now holds shares worth about £600 million.

This marks the second time Frasers Group has increased its investment in Hugo Boss in one month.

On 8 March 2022 the Derbyshire-headquartered Group had announced that it would increase its investment to 9.7 million shares via the sale of put options, representing 14% of total share capital. It then held shares worth around £390 million in Hugo Boss.