British retailer Frasers announced Tuesday that it has grown its ownership stake in German fashion label Hugo Boss to approximately 30.28%, surpassing a significant regulatory milestone in its ongoing effort to acquire the luxury brand.
The company purchased an additional 2.55 million Hugo Boss shares, pushing its holdings past the 30% mark — a threshold under German takeover regulations that requires the acquiring party to make a formal mandatory bid for the target company.
Frasers was already Hugo Boss’s largest shareholder, previously holding a 26.06% stake in the German fashion house.
Back in June, Frasers put forward a takeover proposal valued at €38 per share, amounting to approximately €2 billion — or roughly $2.28 billion. Hugo Boss responded by advising its shareholders to turn down the offer, calling it “financially inadequate.”
Despite that rejection, Frasers confirmed Tuesday that its bid remains active. The initial window for shareholders to accept the offer is set to close on July 27.
Hugo Boss responded to Reuters, stating that Frasers Group’s increased ownership “does not have any implications for the voluntary takeover offer or the offer process.”
Adding to the complexity of Frasers’ business outlook, the company last week declined to issue its fiscal 2027 financial forecast, citing uncertainty created by its simultaneous pursuit of Hugo Boss and Australian footwear chain Accent.
