Hugo Boss chief executive remains unperturbed by Frasers’ stake

Hugo Boss CEO Daniel Grieder does not see the stake held by the British retail group Frasers as a problem for the fashion group’s strategy. “It doesn’t matter what percentage Frasers ends up with,” Grieder told the Frankfurter Allgemeine Sonntagszeitung. Frasers Group increased its stake to 48% through a takeover bid.

He said there was “fundamental agreement” with Frasers on the strategy for Hugo Boss. However, Grieder acknowledged: “A new investor naturally brings its own perspective.” Frasers has already invested 1.5 billion euros in Hugo Boss. The CEO expects to remain in his post. “I signed at the end of 2024 for a further three years because my mission at Hugo Boss is not yet complete. I still have a lot I want to achieve here.”

The British Frasers Group recently failed in its voluntary takeover bid for Hugo Boss, but significantly expanded its influence within the company by appointing Michael Murray as chair of the supervisory board. Murray is also CEO of Frasers Group. The major shareholder had previously ousted the former chair of the supervisory board, Stephan Sturm. Hugo Boss’s management did not support the takeover bid.

The British group most recently held just under 48% of Hugo Boss and aims to increase its stake to over 50%. Frasers has been attempting to take the helm at Hugo Boss since mid-June. The group is majority-owned by the British billionaire Mike Ashley. The company’s most important and best-known brand is the retail chain Sports Direct. In addition, the company holds numerous stakes, including in the online retailer ASOS.