Frasers Group PLC (LSE:FRAS) said it increased its investment in Hugo Boss, the luxury fashion brand, with its maxium exposure roughly €960mln (£840mln).
According to a statement, Frasers now has around 3.02mln shares of common stock, representing 4.3% of the Hugo Boss’s total share capital.
Additionally, Mike Ashley's company said it also holds 20.08mln shares of common stock via the sale of put options, equivalent to 28.5% of Hugo Boss’s share capital.
The FTSE-100 company said it continues to see opportunities that strengthen its brand proposition.
The recent acquisitions of Studio Retail Limited and Missguided are examples of its “drive to expand and acquire businesses and brands that can strengthen Frasers Group, and the connection to our customers”, it said.
“Frasers Group has extensive ambitions to grow the business inside and outside of the UK and is constantly exploring the potential for further expansion.”
“The strategic investments Frasers Group makes offer new opportunities for the company, whilst also helping to support the long-term future of the existing retail businesses, and the many thousands of jobs they sustain,” the company said.