Bekleidungs-Riese: Frasers Group verfehlt Übernahme von Hugo Boss knapp

British investment giant Frasers Group narrowly missed out on the full takeover of German fashion company Hugo Boss, raising its stake to 47.89 percent. The British firm had been attempting to take control of the company since mid-June, valuing it at around €2.7 billion through a voluntary public offer. However, Hugo Boss held the offered price of €38 per share as too low and advised its shareholders to reject the bid.

The offer was open until August 13th. Hugo Boss CEO Daniel Grieder expressed appreciation for the trust and support shown by the Frasers Group shareholders throughout the bidding period and welcomed their backing of the company's long-term strategic direction. The EU Commission had previously approved the takeover. Frasers Group, led by Mike Ashley, is a UK-based retail conglomerate with Sports Direct and the sporting goods store Sports Direct also under its control.

They also hold various investments, including the online retailer Asos. In Germany, the British group has previously shown interest in the chain Sportscheck, which was subsequently sold to Italy. They announced their bid for Puma in the spring. During the second quarter, Hugo Boss suffered from a decrease in consumer confidence, particularly in Europe, as well as ongoing restructuring within the company.

Sales declined year-on-year by 10 percent to €905 million. The core markets of Germany, the UK, and France saw reduced demand for Hugo Boss. Additionally, closures in the company's own retail outlets and reduced wholesale space were factors. Earnings before interest and taxes (EBIT) fell by 28 percent to €59 million, while the group's earnings fell 32 percent to €34 million.