Frasers Group takes control of German brand Hugo Boss
Frasers Group’s stake in Hugo Boss rose to 50.08%. After the transaction, the financial results of the German clothing manufacturer will be included in the statements of the British group, and the brand itself will become its subsidiary
The British Frasers Group took control of the German clothing manufacturer Hugo Boss, increasing its stake to 50.08%. The company will become a subsidiary of the retailer owned by billionaire Mike Ashley, Bloomberg reports, citing a statement from Frasers Group.
Previously, the company’s share was about 48%.
The British group, which owns Sports Direct, Flannels and House of Fraser, began investing in Hugo Boss in 2020. In June, Frasers offered to buy back shares of the German company at €38 apiece, valuing it at about €3.1 billion. However, the management of Hugo Boss recommended shareholders to reject the offer, considering the price understated.
After the increase, Hugo Boss’ financial results will be included in the consolidated financial statements of the British group. A spokesman for the German company said the deal would not result in significant changes to Frasers' level of influence or Hugo Boss' day-to-day operations.
Frasers has been expanding its presence in the luxury goods segment in recent years: the group acquired stakes in the British brands Mulberry and Burberry, and in August bought department store chain Harvey Nichols.
In September, Frasers CEO Michael Murray, Ashley's son-in-law, became chairman of the supervisory board of Hugo Boss. Former board chairman Stefan Sturm left the post after repeated disagreements with Frasers.
Murray has been on the board since May 2025. Hugo Boss explained the decision by changes in the shareholder structure.
“Hugo Boss is exceptionally strong thanks to two strong brands, a unique global presence and significant untapped potential,” said the new chairman. The board will focus on implementing the strategy and creating long-term value for shareholders, he said.
In September, Frasers announced its intention to increase the stake above 50%, but did not guarantee either the purchase of shares or the timing of the transaction. The British group, which owns Sports Direct, Flannels and House of Fraser, first invested in Hugo Boss in 2020.
