UK’s Frasers Group Expands Investment in Hugo Boss, Becoming Major Shareholder
British department store chain Frasers Group PLC has announced a significant increase in its investment in German fashion brand Hugo Boss AG. The company now holds direct interests in Hugo Boss common stock, including 1,740,161 shares, representing 2.47 per cent of Hugo Boss’s total share capital, and an additional 9,797,500 shares via the sale of put options, representing 13.92 per cent of Hugo Boss’ total share capital.
Taking into account the net premium received, Frasers Group’s maximum aggregate exposure related to its net acquired interests in Hugo Boss, valued at the closing share price on May 29, 2024, is approximately €360 million (~$392.4 million), Frasers Group said in a media release. This strategic move solidifies Frasers Group’s position as a major shareholder in Hugo Boss and highlights its commitment to the fashion industry.