Frasers Group raised its Hugo Boss stake to 50.08% on October 23, 2026, making the German fashion house a subsidiary of the British retailer.

Hugo Boss stake passes majority threshold

Frasers, controlled by Mike Ashley, said it bought a further 198,666 Hugo Boss shares for about €7.6 million ($8.51 million). The purchase, funded from existing cash resources, took its holding to approximately 34.5 million shares.

Frasers expects to consolidate Hugo Boss’ earnings, assets and liabilities into its accounts after passing the 50% threshold. A Hugo Boss spokesperson said the company had noted the increase but did not expect crossing the threshold to have major implications.

Earlier takeover offer was rejected

Frasers made a €2 billion takeover bid for Hugo Boss in June. The German company rejected the €38-per-share cash offer as financially inadequate.

Since then, Hugo Boss’ chairman has stepped down and Frasers CEO Michael Murray has become chairman of its supervisory board. Frasers has continued to increase its holding.

Frasers shares closed 0.3% higher on October 23, while Hugo Boss shares ended 0.8% lower.

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