[REVISION HISTORY]

Frasers Group secures majority control of Hugo Boss

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What changed

2026-10-26 10:21 UTC → 2026-10-27 14:53 UTC · added ~~removed~~

Frasers Group, controlled by Mike Ashley, has successfully secured majority control of the German fashion house Hugo Boss, increasing its stake to 50.08%. The acquisition was finalized on 23 October through the purchase of 198,666 additional shares for approximately 7.6 million euros, at a price of 38.41 euros per share. This transaction transforms Hugo Boss into a subsidiary of the British retail conglomerate, allowing Frasers Group to fully consolidate Hugo Boss’s financial results, assets, and liabilities into its own accounts. ~~The~~ This takeover follows a period of intense pressure and leadership restructuring. Prior to the final acquisition, Frasers Group had increased its direct shareholding and voting rights to 48.80 percent as of 16 October, up from 47.89 percent in August. While direct ownership rose, the proportion held through financial instruments, such as put options, decreased from 29.72 percent to 22.16 percent. When combining direct shares and these instruments, the total attributed interest stood at 70.96 percent. The acquisition follows a previously rejected €2 billion takeover bid in June, which Hugo Boss management had deemed financially inadequate. In September 2026, Hugo Boss chairman Stephan Sturm resigned, effective October 15, following “constructive discussions against the backdrop of the recent changes in the shareholder structure.” During this transition, Frasers Group sought to expand its influence on the supervisory board, proposing Robert Palmer to join existing member Michael Murray. Management also underwent significant changes as Frasers Group increased its stake toward the 50% threshold. Yves Müller stepped down from the executive board for personal reasons, and Ivica Maric assumed the roles of Chief Financial Officer and Chief Operating Officer on 1 October. Despite the takeover ~~battle and a declining stock price,~~ battle, CEO Daniel ~~Grieder, whose contract extends through late 2027,~~ Grieder maintained that Frasers Group and Hugo Boss management were “fundamentally in agreement regarding the company's direction.” ~~Frasers Group may gain further influence through put options that could grant access to an additional 21.87 percent of shares.~~ A spokesperson for Hugo Boss stated that ~~the company has noted the increase in holdings and that~~ “little will change regarding daily ~~operations.” This majority stake allows Frasers Group~~ operations,” and no immediate changes to ~~unilaterally decide on simple resolutions at general meetings, such as~~ the ~~discharge of the management board or the use of profits.~~ company’s 20,000 global employees have been announced.

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