Frasers Group increases Hugo Boss stake to £840m
Frasers Group revealed it had snapped up a further chunk of shares from fashion firm Hugo Boss today taking its stake in the firm to £840m.
The owner of Sports Direct said this morning it now held 3,025,000 shares of common stock – 4.3 per cent of Hugo Boss’s total share capital – as well as 20,089,000 shares of common stock via the sale of put options, representing 28.5 per cent of Hugo Boss’s total share capital
Frasers said the new investment would offer it “new opportunities” and help support the “long-term future of the existing retail businesses”.
German-headquartered Hugo Boss employs more than 14,000 employees worldwide and has a wholesale and retail presence in the UK.
The investment from Frasers comes as the group also takes a five per cent stake in fast fashion firm Asos to make it the fourth largest shareholder in the firm.