Stories

Wed, 10 Jun 2026

Wed, 10 Jun 2026 Mike Ashley's Frasers offers £1.73bn to buy all of Hugo Boss

The retail group already owns just over a quarter of the German fashion brand but wants to buy the rest of it.
Frasers Group, owned by businessman Mike Ashley, has made a £1.73 billion takeover offer for German fashion brand Hugo Boss. Frasers currently owns 25% of Hugo Boss and plans to buy out the remaining shares at €38 per share, valuing the company at €1.98 billion. The deal would see Frasers, which also owns House of Fraser and Evans Cycles, become a majority shareholder in Hugo Boss. Frasers has built up its stake in Hugo Boss over several years, gradually increasing its ownership from 5% to 25%. According to German law, once a company reaches 30% ownership, it must make an offer to buy the remaining shares. The takeover would be Frasers' largest acquisition to date and marks a departure from its usual strategy of buying struggling retailers. Hugo Boss has said it will "thoroughly examine" the offer and issue a statement in due course. The company's current share price is €36.5, but Frasers believes its valuation at €38 per share is reasonable given the brand's growth prospects. Mike Ashley's reputation as a shrewd businessman precedes him, with a history of buying up struggling retailers at discounted prices. However, his ownership of Hugo Boss marks a change in strategy for Frasers, which has been building a portfolio of profitable brands over the past few years. The takeover is likely to be scrutinized by regulators and shareholders, particularly given Frasers' complex relationship with rival retailer Boohoo. Frasers owns 29% of Boohoo but has clashed with the company's co-founder Mahmud Kamani in the past.