Frasers Group lifted its stake in Hugo Boss (XTRA:BOSS) to nearly 48% of share capital after a takeover offer that Hugo Boss management rejected on valuation grounds. The move makes Frasers Group the largest shareholder in Hugo Boss and increases its potential influence over future company decisions. Hugo Boss boards oppose the current offer terms, leaving the company independent for now despite Frasers Group approaching a near half ownership position. Rising ownership concentrations like...

Mike Ashley’s retail group lifted its stake in the German fashion brand to nearly 48%, falling short of full control but becoming impossible to ignore.

The retail giant behind Sports Direct and House of Fraser said it had increased its shareholding of the German fashion brand to nearly 48%.

Frasers Group has expanded its stake in German fashion company Hugo Boss to nearly 48% following the conclusion of its voluntary public takeover offer.

Mike Ashley’s Frasers Group has built an almost 50pc stake in Hugo Boss after failing to take control of the German fashion brand.

After initially urging investors to reject the 38‑euro bid, Hugo Boss now stresses a long‑term partnership with Frasers and continuity under its current leadership.

The British retail company said it received acceptances for 12.2 million Hugo Boss shares, or about 17.62% of the German company.

Bosses at Harvey Nichols are trying to reassure the department store chain's hundreds of luxury brand partners about its future stewardship under the retail tycoon Mike Ashley. Sky News has seen a memo sent by Kate Benson - a former Net-a-Porter executive who is now Harvey Nichols' chief merchant - to suppliers in the wake of its sale out of administration to Frasers Group. The deal, confirmed on Thursday, salvaged roughly 1,000 jobs although it raised questions about the duration of Frasers' commitment to the company's existing store portfolio.

The UK retail conglomerate has not confirmed the value of the transaction, though several media outlets have reported it to be £40m.

After weeks of speculation, Frasers Group has confirmed it has purchased luxury department store chain Harvey Nichols.

Mike Ashley’s Frasers Group is buying Harvey Nichols in a rescue deal that will save the luxury department store from collapse.

It comes after an auction process for Harvey Nichols which saw Frasers battle retail rival Next to take control of the brand.

Under a pre-pack deal, Mike Ashley gets the Knightsbridge flagship, regional U.K. stores, online and international franchises, and over 1,000 staff.

The retail billionaire Mike Ashley was on Wednesday putting the finishing touches to a rescue deal for Harvey Nichols, the department store chain. Sky News has learnt that Mr Ashley's Frasers Group is hoping to announce the acquisition of Harvey Nichols through a pre-pack insolvency process on Thursday, after weeks of negotiations. Industry sources said the tycoon's team had been engaged in detailed talks with FTI Consulting, the adviser to Harvey Nichols and its standby administrator, which could involve significant job preservation commitments.

Harvey Nichols has slumped to a £49m loss as it scrambles to stave off collapse with a rescue deal.

The takeover is expected to involve the department store briefly entering administration, with FTI Consulting lined up to act as insolvency practitioner under a pre-pack administration arrangement.

The billionaire retail tycoon Mike Ashley is closing in on a takeover of Harvey Nichols, one of Britain's best-known department store chains, in a deal which is expected to see the business briefly placed into administration. Sky News can reveal that Frasers Group, the London-listed retailer which is controlled by Mr Ashley, is the frontrunner to buy Harvey Nichols. If confirmed, it would underline Mr Ashley's track record as the most prolific buyer of famous retail brands in Britain, having overseen earlier deals to buy businesses such as House of Fraser, Jack Wills and Gieves & Hawkes, the Savile Row tailor.

The high street billionaire Mike Ashley is leading a race to acquire a collection of London buildings in what would represent a further expansion of his burgeoning property empire. Sky News understands that the businessman's Frasers Group has emerged as the frontrunner to buy the Worship Street Estate - a 195,000 square foot mixed-use space located where the City, Shoreditch and Tech City converge. A sale process initiated by the City of London Corporation was initiated earlier in the summer, with sources saying that Frasers was now the likeliest buyer.

Hugo Boss (ETR:BOSS) reported a 9% currency-adjusted decline in second-quarter sales as weak consumer demand and the company’s planned strategic realignment weighed on volumes, while gross margin, inventory levels and cash generation improved. Chief Executive Officer Daniel Grieder said 2026 is int