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.
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.
Canada-based Elmau & Associates said Jeffrey M Clair has joined it as Executive VP of Sales, North America. He “will be responsible for accelerating the growth of licensed branded clothing lines for the Kangol brand”.
Mike Ashley's Frasers Group, formerly Sports Direct, has taken a 5.1% stake in German label Hugo Boss through stocks and derivatives, continuing his drive to take the British sportswear and apparel retailer upmarket.