Mike Ashley’s Frasers Group has elevated its stake in luxurious German vogue model Hugo Boss as soon as once more.
Frasers stated it now has 3.4 million shares – a 4.9% stake – in Hugo Boss and holds purchase choices over one other 26% shareholding.
The group stated its funding within the vogue model is now price round 900 million euros (£770 million).
Frasers stated: “This funding displays Frasers Group’s perception within the Hugo Boss model, technique and administration crew.
“Frasers Group continues to mean to be a supportive stakeholder and create worth within the pursuits of each Frasers Group’s and Hugo Boss’ shareholders.”
Frasers owns chains together with Sports activities Direct, Home of Fraser, Flannels, Recreation, Jack Wills and Evans Cycles.
It has been increase its holding in Hugo Boss for the previous two years, having first purchased a holding within the vogue agency in 2020.
Frasers additionally owns a stake in British luxurious purse maker Mulberry and has been main a push into the upmarket retail sector.
The group has been snapping up a lot of the excessive avenue and retail sector lately as rivals have struggled amid a shift to on-line buying, with the newest deal seeing it purchase quick vogue retailer Missguided out of administration.
Frasers sealed a deal, price round £20 million, earlier this month to purchase the enterprise and belongings of Missguided, in addition to sister model Mennace.