Fashion
Mike Ashley’s Frasers Raises Stake in Hugo Boss
- Company has tried to elevate its brands by investing in rivals
- Frasers also has positions in Mulberry, French Connection
A mannequin stands next to a sanitizing station inside a Hugo Boss AG clothing store in London.
Photographer: Chris Ratcliffe/BloombergBillionaire Mike Ashley’s Frasers Group Plc has raised its investment in Hugo Boss AG as the U.K. retailer pursues a strategy of taking bets on rival operators and “elevating” its own brands.
The company behind Sports Direct, Flannels and House of Fraser disclosed on Tuesday that it now controls a 15.2% “strategic position” in the German luxury fashion brand through a combination of stocks, contracts for differences and put options. The increased investment reflects its belief in Hugo Boss’s long-term future and that it intends to be a “supportive stakeholder,” Frasers said.