Frasers Group increases Hugo Boss shareholding through put options

Britain’s Frasers Group, the owner of retail chains like Sports Direct, has significantly expanded its investment in German luxury fashion house Hugo Boss through the sale of additional put options.

This latest transaction strengthens Frasers Group’s existing stake, with the company now directly holding more than 13.5 million shares of Hugo Boss's common stock, equivalent to a 19.2 percent stake in the company's total share capital. Additionally, through the put options, Frasers could acquire up to 16.7 million more shares, potentially increasing its total stake to 23.7 percent if exercised.

Taking into account the premiums received and strike prices associated with the put options, Frasers Group’s maximum aggregate exposure to Hugo Boss, based on the latest closing share price, stands at approximately 1.02 billion euros (850 million pounds/1.12 billion dollars).

Frasers Group emphasised that this investment aligns with its broader strategy of developing partnerships across the retail sector. Further strengthening ties between the two companies, Frasers Group’s CEO, Michael Murray, has been nominated for election to Hugo Boss’s supervisory board at the company’s general meeting in May 2025.

Industry experts note that Frasers Group’s deepening interest in Hugo Boss comes as the luxury fashion brand navigates a volatile market. By increasing its exposure through both direct shareholding and financial instruments, Frasers Group is positioning itself as a key stakeholder in Hugo Boss’s future.