Mike Ashley’s Frasers Group buys £97m stake in Hugo Boss as part of plans to take his retail empire upmarket
Mike Ashley’s Frasers Group – the owner of Sports Direct – has bought a £97m stake in Hugo Boss as part of plans to take his retail empire upmarket.
The ‘strategic investment’ is worth 5.1 per cent of the French company.
Staking a claim: The ‘strategic investment’ is worth 5.1 per cent of the French company
Ashley wants to reposition his fashion empire towards ‘premium third-party brands’.
In February his company bought a 12.5 per cent Mulberry stake.
Frasers Group said the investment reflected its ‘growing relationship with Hugo Boss’.