Mike Ashley’s Frasers offers €1.98bn to takeover Hugo Boss
June 10, 2026, 3:22 PM EDT. Frasers, led by Mike Ashley, has made a €1.98 billion (£1.73 billion) offer to fully acquire German luxury fashion brand Hugo Boss. Currently owning 26% of Hugo Boss, Frasers proposes to pay €38 per share, a premium on the €36.44 closing price. The bid follows Frasers' gradual stake build-up since 2020 and aims to consolidate Hugo Boss into its portfolio alongside Sports Direct and other retail brands. CEO Michael Murray, a Hugo Boss supervisory board member, abstained from the takeover decision. The offer awaits shareholder and regulatory approval, with completion targeted for H2 2024. Frasers, valued at £3.45 billion, expects the acquisition to enhance shareholder value and support Hugo Boss's sustainable growth strategy under its current management.
