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Frasers Group, a British retail and intellectual property group, has increased its stake in German fashion brand Hugo Boss.
Frasers announced it now has 3.4 million shares – a 4.9% stake – in Hugo Boss and holds buy options over another 26% shareholding.
The group said its investment in the fashion brand is now worth around €900m (£770m).
Frasers said: “This investment reflects Frasers Group’s belief in the Hugo Boss brand, strategy and management team.
“Frasers Group continues to intend to be a supportive stakeholder and create value in the interests of both Frasers Group’s and Hugo Boss’ shareholders.”
Frasers Group includes Sports Direct, House of Fraser, Frasers, FLANNELS, GAME, Jack Wills, Sofa.com, Evans Cycles, USC, and Everlast.
