Frasers Group adds to Hugo Boss stake
The ever-growing Frasers Group empire has become a little bigger with the UK-based retailer announcing it has increased its investment in German fashion house Hugo Boss.
Frasers Group said it now owns 4.5% of Hugo Boss’ total share capital and 13.7% of shares via the sale of put options. The group, which now holds shares worth around £390 million in Hugo Boss, said its investment “reflects its 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,” it added.
It’s been over a year since Frasers last increased its stake in Hugo Boss and comes after the house reported record quarterly sales and accelerating momentum in mid-January. At the time, it also said its preliminary 2021 results exceeded its guidance with chief executive Daniel Grieder calling it “a highly successful year” for the firm.
Recently, Hugo Boss also announced it was “rebuilding its creative leadership team” as Marco Falcioni stepped up to take over from Ingo Wilts. The German fashion giant has been relaunching the brand identities of its Hugo and Boss labels, refocusing on a younger, more casual style in recent periods and seeing success with major celebrity-filled marketing campaigns.
Although Frasers Group added Studio Retail to its portfolio last month, buying the value e-tailer out of administration, further investment in Hugo Boss is further evidence of Frasers ongoing focus on the luxury market, underpinned by its investment in its fast expanding Flannels retail brand.
Copyright © 2022 FashionNetwork.com All rights reserved.