Mike Ashley’s Frasers Group is plotting to buy more shares and take majority control of Hugo Boss as it reconsiders its support for the firm’s chair.
The retail giant, owned by the billionaire, last month said it had increased its shareholding in the German fashion house to 47.89 per cent after recent deals to acquire extra shares.
This morning, Frasers said it intends to ‘further increase’ its ownership of Hugo Boss as it tightens its grip on the retailer just weeks after buying Harvey Nichols.
It told investors that it intends to bring its holding to above 50 per cent of the overall share capital and voting rights.
British billionaire Mike Ashley is looking to move further into the luxury market
