By guest author Elias Jahshan from Retail Gazette
- Mike Ashley’s Frasers Group almost doubles stake in Hugo Boss from 5.1% up to 10.1%
- Frasers Group previously said the investment reflects growing relationship Hugo Boss
- Hugo Boss is a supplier for House of Fraser and Flannels, both owned by Frasers Group
Mike Ashley’s Frasers Group has nearly doubled its shareholding interest in Hugo Boss, less than a month after buying an initial stake in the upmarket German fashion house.
Ashley’s retail empire announced yesterday that it had acquired 552,500 shares of common stock, 2,249,601 shares of common stock via contracts for difference, and 4,260,000 shares of common stock via the sale of put options.
This means Frasers Group’s’ stake in Hugo Boss has grown from 5.1 % earlier this month to 10.1 %.