Frasers Group’s Mike Ashley Tightens Hold On Hugo Boss
The group increased its stake in the luxury brand to 48 percent, less than a week after its acquisition of department store chain Harvey Nichols.
Frasers Group's CEO Mike Ashley is strengthening his control over Hugo Boss, according to recent fashion business news. A significant portion of luxury brand consumers, over 80%, are now exploring the secondary market before purchasing new items from high-end brands. This trend is particularly evident among younger generations, Gen Z and Millennials.
The fashion industry is also witnessing other notable developments. India's Tata Group is currently experiencing a power struggle, while Nigeria's Jumia has secured fresh funding. Additionally, the impact of a recent Colombian earthquake on local manufacturing sectors is being closely monitored.
In the realm of casual footwear, low-profile sneakers from brands such as Onitsuka Tiger and Adidas have gained prominence, shaping conversations around back-to-school shopping. This shift in consumer preferences indicates a changing landscape in the footwear market.
Notably, this news follows the passing of a high-profile Dior executive in a car accident. The loss has been deeply felt by colleagues and the industry at large, with CEO Delphine Arnault expressing her sense of losing a cherished friend.
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- Sports Direct owner Mike Ashley tightens hold on Hugo Boss theguardian.com
