// Frasers Group now holds 3.9% of Hugo Boss shares but has a put option over an additional 25%
// This is lower than the 4.3% stake and 30.3% in put options it held in November
Frasers Group has revealed that its financial exposure to premium fashion brand Hugo Brand has fallen to £580 million.
The Mike Ashley-controlled retail group now holds a 3.9% stake in Hugo Boss but has an additional 25% via put options.
In November, the retail group said it had a 4.3% stake and 30.3% via put options.
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Hugo Boss, which is listed on Germany’s Frankfurt Stock Exchange, has seen a boost in its share price since Frasers last upped its stake in October.
Over the past month, its share price has gone up by nearly a tenth.
Frasers Group, which owns retailers including Sports Direct, House of Fraser and Flannels, said last June that it would be a “supportive stakeholder” in Hugo Boss.
It said: “This investment reflects Frasers Group’s 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.”
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