Frasers Group has boosted its ownership of German fashion brand Hugo Boss to just under 48%, the British retail group said on Tuesday. The rise in Frasers' stake underscores the company's continuing push into the luxury retail space.
The ownership increase follows a voluntary cash offer launched by Frasers in June, under which it offered €38 per share for the outstanding Hugo Boss stock. At the time the bid was announced, Frasers held a 26.06% interest in the German company.
Hugo Boss publicly urged its shareholders last month to turn down what it described as a hostile takeover attempt valued at about €2 billion, saying the proposal was "financially inadequate." Despite the rejection, the German group's supervisory board chairman Stephan Sturm welcomed Frasers' larger ownership position, stating: "We appreciate Frasers Group’s continued long-term commitment to HUGO BOSS and look forward to maintaining a constructive relationship with them as our single largest shareholder."
Hugo Boss added that it will proceed with the strategic plan it unveiled in December 2025, which focuses on sustainable growth and increasing long-term shareholder value through 2028. The company said execution of that strategy will continue irrespective of the change in its shareholder base.
Frasers' current move is consistent with its broader strategy of expanding its retail footprint through acquisitions and purchases of significant stakes in other retailers. The group has been active in pursuing control or influential positions in companies within the broader apparel and footwear sectors.
Last month, Frasers withheld guidance for fiscal 2027, citing uncertainty linked to its takeover bids for Hugo Boss and for Australian footwear retailer Accent. The company attributed the guidance pause to the unsettled outcome and evolving dynamics surrounding those offers.
Context and next steps
With Frasers now the single largest shareholder in Hugo Boss, the relationship between the two firms will be one to watch as Hugo Boss continues to execute its strategy through 2028. The recent ownership increase does not, based on current statements, change Hugo Boss’ stated strategic priorities.