Mike Ashley's €2bn bid for German fashion label Hugo Boss faces shareholder vote

British retail entrepreneur Mike Ashley has offered a cash consideration of about €2 billion to acquire the remaining 74 % of Hugo Boss that he does not already own. The proposal, which follows European Commission clearance on 27 July, requires Hugo Boss shareholders to decide by 13 August whether to accept the offer.

The company's management and supervisory board argue the bid “does not adequately reflect the company’s value and its future potential”, noting the €38 per‑share price only modestly exceeds the recent €36‑37 trading range. Under German law Ashley was obliged to make a takeover offer after his stake passed the 30 % threshold.

Hugo Boss, revitalised under CEO Daniel Grieder since 2021 with separate “Hugo” and “BOSS” lines, has seen sales slow in key markets such as China and the United Kingdom, leading to a profit warning, cost‑cutting measures and planned store closures. The outcome of the vote will determine the future control of the historic German fashion house.