Frasers Group has upped its stake in Hugo Boss once again, taking its investment in the company to around £415m (€490m) at the shares’ most recent closing price.
The owner of Sports Direct said it now owned 5.6m shares, 7.99% of Hugo Boss’s total share capital, as well as 13.81%, via the sale of put options.
The update comes after Frasers increased its financial exposure in the fashion brand in May, bringing its total shares in the company to £305m.
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Hugo Boss is one of many retail investments that Frasers, which is controlled by Mike Ashley, has. It also holds stakes in Asos, Boohoo, Currys and AO.com.
The business also recently snapped up Coggles, as it unveiled a ‘multi-year partnership’ with THG.
Hugo Boss’s share price has declined this year, dropping more than 40% in the year to date. Shares started the year trading at €66.3, they now sit at €39.71.
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