Frasers increases stake in iconic fashion brand
Frasers Group has ramped up its international expansion plans by increasing its holding in the iconic fashion brand Hugo Boss.
In a statement issued this morning (24 October), the Shirebrook-headquartered retail group told the London Stock Exchange it had snapped up 4.3% of the German clothing giant’s total share capital and taken an indirect stake of 28.5%.
Frasers’ holding in Hugo Boss is now worth around £840m.
The move is part of the group’s drive to gain a stronger foothold in international markets – a strategy which has also seen it bid to take control of the Australian ecommerce site MySale.
Frasers’ attempted swoop for the Australian fashion platform took a significant step forward last week after its holding in the company passed the 50% mark.
In its statement earlier today, Frasers said it was “constantly exploring the potential for further expansion” overseas.
The company has also been on the expansion trail closer to home, increasing its stake in the online fashion platform ASOS by around 5% over the weekend to become its fourth largest shareholder.
