Frasers Group once again ups its stake in Hugo Boss

Frasers Group, the owner of Sports Direct, Flannels and House of Fraser, has once again upped its stake in the German premium clothing brand, Hugo Boss.

The strategic investment saw the retail group purchase over three million shares of common stock, representing 4.3 percent of the label’s entire share capital.

Additionally, it acquired more than 21.1 million shares of common stock via the sale of put options, representing 30.03 percent of the share capital.

It comes as the acquisition-hungry firm, previously run by Mike Ashley, regularly increased its hold on Hugo Boss as part of its strategy to widen its reach within the premium market.

Over the course of 2022, the company has upped its stake in the retailer on around five separate occasions, with it now holding approximately one billion euros worth of shares as per the closing share price on November 3.

Frasers followed a similar strategy of acquiring share capital in the lead up to its recent acquisition of Australian marketplace MySale, for which it continued to increase its stake in before ultimately snapping up over 94 percent of shares.

This year alone, the group has acquired Studio Retail, Missguided, Sneakerboy and I Saw It First, and has further bought stakes in N Brown, Gieves & Hawkes and Asos.