Mike Ashley's Frasers Group raise stake in Hugo Boss

10 March 2022, Mumbai:

Frasers Group now owns 4.5% of Hugo Boss’s total share capital, and 13.7% of shares via the sale of put options.

The group, comprising of House of Fraser, Flannels, Jack Wills, Sports Direct, USC and Cruise, holds shares worth around £390m in Hugo Boss.

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The retailer said its investment reflects its "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's shareholders."

The group, formerly known as Sports Direct International, upped its stake in Mulberry, from 29.7% to 36.8% in November 2020.

RELATED ARTICLE By 2025, Hugo Boss wants to double its sales to $4.75 billion

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CREDITS: drapersonline.