Mike Ashley’s Frasers Group has increased its stake in German fashion label Hugo Boss for the third time in a week. Earlier this month, Frasers Group had bought 5.1 per cent stake in Hugo Boss through stocks and derivatives. It has further increased its stake in the German label to 10.1 per cent through stocks and derivatives.
The Group now holds 552,500 shares of common stocks which is 0.8 per cent of German fashion house’s total share capital. This investment by the group reflects its faith in Hugo Boss’ future and also the Group’s intent to strengthen the relationship further with the German fashion label.
Hugo Boss is one of the largest German apparel brands with worldwide sales of €2.9 billion. Frasers Group, which was previously called Sports Direct International Plc, is UK’s largest retailer of sports items and has around 670 stores across the globes. It generates revenue of €3.701.9 million.
