Frasers Group has announced its intention to take its shareholding interest in Hugo Boss to over 50%, through the potential acquisition of further shares in the luxury fashion brand.

The latest announcement comes after the retail, real estate, intellectual property and investment conglomerate took its direct shareholding in the German brand to 47.89% on 18 August, following the expiry of the acceptance period for its voluntary public takeover offer.

Frasers said there can be no certainty as to whether, when, or at what price any such acquisitions will be made, or that this objective will be achieved.

The update comes as the firm said that it is currently reviewing whether it continues to support Hugo Boss’ chairman, Stephan Sturm.

It added that if it were to cease to support Sturm in his position, it would publish an intention statement in accordance with the German Securities Trading Act.

Following the announcement, shares in Hugo Boss increased marginally.

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