Frasers Group Boosts Hugo Boss Stake Above 30% Mandatory Offer Threshold

British retailer Frasers Group has increased its total holdings in Hugo Boss to 30.28%, crossing a key regulatory line that obligates it to launch a mandatory takeover bid for the German fashion house.

Frasers announced on Tuesday that it had acquired an additional 2.55 million shares in Hugo Boss, raising its stake from a previous position of 26.06%.

Takeover Bid Intensifies

Under German takeover law, any shareholder that acquires 30% or more of a company's voting rights must submit a mandatory offer to all other shareholders. This latest share purchase by Frasers, already Hugo Boss's largest shareholder, formalizes its pursuit of the luxury brand.

The move follows a voluntary offer made by Frasers in June to acquire Hugo Boss for €38 per share, valuing the company at approximately €2 billion ($2.28 billion). Hugo Boss's management urged its shareholders to reject that proposal, describing it as "financially inadequate."

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Offer Status and Company Outlook

Frasers confirmed on Tuesday that its initial offer remains open, with the acceptance period scheduled to run until July 27. For its part, Hugo Boss told Reuters that the increased shareholding by Frasers "does not have any implications for the voluntary takeover offer or the offer process."

The ongoing takeover battles are impacting Frasers' own financial planning. The company recently withheld its fiscal 2027 outlook, citing the difficulty in forecasting its future performance amid its bids for both Hugo Boss and the Australian footwear retailer Accent Group.