Frasers Group offers €1.98bn for full control of Hugo Boss

Frasers Group, the British retail conglomerate founded by Mike Ashley, has launched a takeover bid to acquire full control of the German luxury fashion house Hugo Boss. The all-cash offer, announced on June 10, 2026, values the portion of Hugo Boss not already owned by Frasers at approximately 1.98 billion euros, or 1.73 billion pounds.

The company is offering 38 euros per share for the roughly 74 percent of Hugo Boss it does not own, representing a modest premium over the stock's closing price of 36.44 euros on Wednesday. Frasers, which owns brands including Sports Direct, Flannels, and GAME, is already the largest shareholder in Hugo Boss with a stake of just over 26 percent, a position it has built steadily since first investing in 2020.

In a statement, Frasers described Hugo Boss as a "key brand partner" and one of the top five brands across its group. The company expressed continued support for Hugo Boss CEO Daniel Grieder and supervisory board chair Stephan Sturm, stating the bid is an extension of its long-term commitment to the brand's sustainable growth strategy. Frasers' board believes increasing its investment will create value for its shareholders.