Mike Ashley’s Frasers Group is, as per media reports, planning to acquire the German luxury fashion house Hugo Boss.
In January this year, Frasers Group had increased its shares in Hugo Boss by up to 15.2 per cent – thereby representing 5.1 per cent of Hugo Boss’ total share capital.
The Group has also, reportedly, said that it intends to be a ‘supportive shareholder’ of the German fashion brand.
Notably, Hugo Boss’ shares rose by around 7 per cent in Frankfurt following speculation that Ashley may acquire the brand, valuing it at €3.2 billion.
The Group also owns 3.3 million shares through contracts for difference, which represents 4.8 per cent of Hugo Boss’ shares, and 3.7 million shares through the sale of put options –amounting to 5.3 per cent of the retailer’s share capital.
Known for selling apparels, accessories, footwear and fragrances, Hugo Boss is one of the largest apparel companies of Germany, with worldwide sales of €2.9 billion in 2019.
