Frasers Group has upped its stake in Hugo Boss to about €900m, it was revealed today. Frasers, that owns Sports Direct, Flannels and House of Fraser brands, said on Wednesday that it had increased its direct holdings of Frankfurt-listed Hugo Boss shares to 4.9 per cent, up from a previous level of 2.1 per cent.
The FTSE 250-listed group noted that after taking into account the premium it will receive under the put options, its maximum aggregate exposure in connection with its acquired interests in Hugo Boss was approximately €900m (£770.m).
“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,” said Frasers.