Frasers Group plans to increase Hugo Boss stake above 50%

Frasers Group, the retail empire majority-owned by billionaire Mike Ashley, has signaled its intention to pursue majority control of German fashion house Hugo Boss, announcing plans to increase its stake beyond 50 percent after its recent takeover bid fell short. The company, which now holds 47.89 percent of Hugo Boss, also disclosed it is reviewing its support for the luxury brand's supervisory board chairman, Stephan Sturm. In a statement filed on September 1, 2026, Frasers Group confirmed it had increased its holding to 33,054,959 shares following the expiry of the acceptance period for its voluntary public takeover offer on August 13. The group stated its current intention is to further increase its interest in Hugo Boss, including through the potential acquisition of additional shares, with the objective of taking an interest in excess of 50 percent of the share capital and voting rights. However, the company cautioned there is no certainty over the timing, price, or completion of further share purchases. The move comes after Frasers launched a voluntary takeover bid for Hugo Boss on June 11, valuing the company at approximately €1.98 billion.