Is the UK's Frasers Group about to make a bid for Hugo Boss? Some investors in the latter seem to think so as its shares jumped on Friday on speculation that shareholder Frasers has ambitions to take control.
Failed upscale menswear retailer Pink Shirtmaker is set to make a return. The LVMH-owned brand, which went on the block before Christmas, has been bought by Nick Preston, a former JD Sports Fashion trading director.
Boohoo on Monday confirmed that it has bought the Debenhams brand for £55m. It will use it to move into beauty and homewares, extend its own brand offering, operate a giant online marketplace and grow internationally.
Frasers said on Tuesday it has increased its stake in German luxury fashion house Hugo Boss to 15.2% through stocks and derivatives, part of Ashley's ongoing drive to take the British sportswear retailer upmarket.
Frasers Group saw lower sales in its first half, as would be expected given that most of its stores were closed for part of the period. But the fall was relatively small and the company’s profits rose.
Mike Ashley's Frasers Group confirmed on Monday that it’s interested in buying Debenhams even though the auction for the Department store chain has already ended and the chain is expected to close completely by March.
Debenhams may be preparing to go out of business, but Mike Ashley – who has coveted the department stores chain for years – still sees a chance he could win it and has made a last-minute approach to its advisers.
Frasers Group is continuing its deep dive into the luxury sector. On Thursday it announced that it has increased its already-large stake in leather goods company Mulberry and could make an offer for the brand.