--- title: "Mike Ashley’s Frasers ups stake in Hugo Boss after takeover bid" type: "News" locale: "en" url: "https://longbridge.com/en/news/296188421.md" description: "Frasers Group, led by Mike Ashley, has increased its stake in Hugo Boss to nearly 48% after purchasing over 17 million shares worth more than €463m. This move follows the rejection of Frasers' initial £1.7bn takeover bid by Hugo Boss's board, which deemed it inadequate. The acquisition aims to tighten Frasers' grip on the luxury sector, coinciding with recent purchases like Harvey Nichols and potential leadership changes at Hugo Boss." datetime: "2026-08-18T07:06:46.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/296188421.md) - [en](https://longbridge.com/en/news/296188421.md) - [zh-HK](https://longbridge.com/zh-HK/news/296188421.md) generator: "portal-rs" --- # Mike Ashley’s Frasers ups stake in Hugo Boss after takeover bid Tuesday 18 August 2026 7:47 am Add as a preferred source on Google Mike Ashley's Frasers is vying for control of Hugo Boss (Lucy North/PA Wire) Frasers Group has pushed up its stake in Hugo Boss to nearly half of the company, though Mike Ashley’s group misses out on full control of the luxury fashion brand. The Sports Direct owner has increased its portion of the German fashion house to nearly 48 per cent after offering €38 for every share in the company it does not already own. The FTSE 250 fashion group said on Tuesday it has bought 12,157,598 Hugo Boss shares from investors who agreed to sell up. That accounts for more than 17 per cent of the firm. These extra shares are worth more than €463m (£396m), according to Hugo Boss’s €38.10 share price at Monday’s market close. This means Frasers, which was already the fashion house’s biggest shareholder, now owns 47.89 per cent of the group, a stake worth more than €1bn. Hugo Boss’s board had dismissed Frasers’s initial £1.7bn bid for the entire company as “inadequate,” urging shareholders not to accept Ashley’s offer. Analysts had raised their eyebrows at the “modest” four per cent premium represented by Ashley’s offer. Shares in Hugo Boss jumped above the €38 mark immediately after Frasers tabled its bid in June. But Ashley’s push for more control over Hugo Boss comes as part of a plan to tighten the grip of his fashion empire on the luxury sector. ## Frasers makes up-market push Last week, Frasers bought struggling department store chain Harvey Nichols out of administration for £40m. The firm has fallen far from its 1990s heyday, in which its stores were synonymous with sitcom Absolutely Fabulous, but Frasers plans to integrate Harvey Nichols with its luxury Flannels brand. Announcing the deal, Frasers chief executive Michael Murray said: “Harvey Nichols is an iconic British institution with significant potential, but it is clear meaningful change is needed. “The turnaround will require tough choices, and we are prepared to make those decisions, even if that means a smaller business in the near term, to create a stronger and more sustainable Harvey Nichols for the long term.” After Hugo Boss snubbed Frasers’s initial takeover play, the group had been plotting to install Murray, Ashley’s son-in-law, as the chief executive of the German firm. The potential move, first reported by The Times, would mimic the group’s attempt to gain control of online retailer Boohoo. In 2024, Frasers unsuccessfully attempted to force Ashley onto the group’s board after building a 27 per cent stake in the firm. ### Related Stocks - [BOSS.DE](https://longbridge.com/en/quote/BOSS.DE.md) - [FRAS.UK](https://longbridge.com/en/quote/FRAS.UK.md) ## Related News & Research - [REG - Frasers Group PLC - Further update on investment in HUGO BOSS](https://longbridge.com/en/news/298876696.md) - [Susquehanna’s SIH Partners lifts Hugo Boss voting rights to 15.11% from 13.17%](https://longbridge.com/en/news/298606154.md) - [Mike Ashley’s Frasers ousts Hugo Boss chairman](https://longbridge.com/en/news/298879994.md) - [Hugo Boss chair Stephan Sturm resigns from supervisory board, effective Oct. 15](https://longbridge.com/en/news/298872163.md) - [Mike Ashley’s Frasers weighs move to oust Hugo Boss chief](https://longbridge.com/en/news/297610443.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**