Showcasing its growing relation with the German-based luxury fashion brand Hugo Boss, Frasers Group has acquired a 5.1 per cent stock in the former. The group purchased 120,000 shares of the common stock in the brand besides 140,000 shares of common stock via contracts for difference, and 3.29 million shares of common stock via the sale of put options.

After taking into account the premium, the will receive under the put options, its maximum aggregate exposure in connection with its acquired interests in Hugo Boss is around £97 million. This investment reflects the group’s belief in the long-term future of Hugo Boss. It intends to be a supportive stakeholder and create value in the interests of both Frasers Group’s and Hugo Boss’ shareholders.

In February, the group also acquired a 12.5 percent share in luxury British handbag label Mulberry. Its key strategic priority is the elevation of its retail proposition and building stronger relationships with premium third party brands.