The British company now holds 50.08 percent of the shares in Hugo Boss, according to an announcement by the firm. This milestone allows Frasers to pass all ordinary resolutions at general meetings independently with a simple majority, covering matters such as profit allocation and the discharge of the executive board. When attendance at meetings is incomplete, even lower voting shares are sufficient, giving the investor operational control. The previous stake stood at 47.89 percent, leaving only a small margin to cross the majority threshold.
This outcome achieves the objective announced on September 1, which aimed to surpass 50 percent through ongoing open-market share purchases after a previous takeover bid fell short. Frasers Group is majority-owned by British billionaire Mike Ashley, and its most prominent brand is the Sports Direct retail chain alongside numerous investments including online retailer Asos.
As a consequence of the takeover contest, supervisory board chairman Stephan Sturm announced his resignation in mid-September. Relations between the major shareholder and the corporate leadership had been strained for a prolonged period, with Frasers having withdrawn confidence from Sturm in December. Disagreements included disputes over dividend payouts.
The British group had attempted to take control of the company based in Metzingen since mid-June. Through a voluntary public offer, Frasers valued the enterprise at approximately 2.7 billion euros. The clothing manufacturer considered the offered price of 38 euros per share to be inadequate and advised shareholders to reject the proposal.
Frasers is also active in other German retail and sportswear ventures, having previously pursued an interest in the Sportscheck chain prior to its sale to Italy, alongside disclosing an investment in Puma during the spring.
The German apparel producer faced headwinds during the second quarter from sluggish consumer sentiment across Europe alongside an ongoing corporate restructuring program. Total revenue declined by ten percent year on year to 905 million euros. Softer demand was observed primarily in core markets including Germany, Great Britain, and France, compounded by retail store closures and reduced wholesale floor space. Earnings before interest and taxes dropped by 28 percent to 59 million euros, while net income fell by 32 percent to 34 million euros.
Chief Executive Officer Daniel Grieder has served for roughly five years, guiding a radical realignment toward a lifestyle brand focused on digitalization, prominent marketing, and a younger demographic. The organization employs 20,000 people globally, including more than 4,400 staff members in Germany.
The clothing manufacturer previously belonged to financial investor Permira, which initially acquired a controlling position through the purchase of Italian fashion house Valentino in 2007. Permira later separated the German maker from the Italian group in 2009 into the Red & Black holding structure, before Valentino was sold to a Qatari investor in 2012. Permira began divesting portions of its Hugo Boss holdings in 2011, followed by further equity sales in subsequent years.
