Latest news with #FrasersGroupPlc
Fashion Network
10 hours ago
- Business
- Fashion Network
Hugo Boss faces dividend opposition from Frasers
Frasers Group Plc warned Hugo Boss AG that it will vote against any dividends, as the British retailer owned by billionaire Mike Ashley exerts its influence after years of building a stake in the German fashion house. Hugo Boss's management should prioritize funding long-term growth and financial flexibility over paying out dividends, Frasers said in a statement late Thursday. It also said the company's stock is undervalued, and called on Hugo Boss to redeem all its treasury shares. Shares of Hugo Boss rose as much as 4.2% in morning trading on Friday, with trading volume about 18 times the average for the time of day. The company, founded by Mike Ashley and formerly known as Sports Direct, is known for acquiring significant stakes in other retailers and using its position to influence board-level decisions. That strategy now appears to extend to Hugo Boss, just weeks after Frasers Chief Executive Officer Michael Murray joined the brand's supervisory board. Frasers and Hugo Boss have had a long relationship that includes the British retailer selling the fashion brand's stock across its stores and online. Ashley's company holds 25% of voting rights in Hugo Boss, according to a filing last month, with exposure to a further 32% through the sale of put options. Frasers said it will support Hugo Boss Chief Executive Officer Daniel Grieder and Stephan Sturm, chairman of its supervisory board, in growing the fashion brand. It also said it does not rule out increasing its stake in the company over the next year, subject to market conditions. In its response, Hugo Boss said it maintains an active and constructive dialog with all shareholders, and appreciates the engagement with Frasers. The company will outline a new strategy at a capital markets day in the fourth quarter, including an evaluation of how capital is allocated to keep aligning the company's long-term goals with shareholder interests. Hugo Boss also said that while it has not seen any downside in keeping 1.4 million treasury shares acquired between 2004 and 2007, it is now considering redeeming them as Frasers requested. Frasers has a history of high-profile clashes with companies in which it held stakes, including with department stores Debenhams and House of Fraser. The business is now run by Murray, Ashley's son-in-law, and has expanded its premium offering with upmarket outlet Flannels. Last year, Frasers walked away from an attempted takeover of British handbag maker Mulberry Group Plc but still pushed for a board seat.
Fashion Network
18 hours ago
- Business
- Fashion Network
Hugo Boss faces dividend opposition from Frasers
Frasers Group Plc warned Hugo Boss AG that it will vote against any dividends, as the British retailer owned by billionaire Mike Ashley exerts its influence after years of building a stake in the German fashion house. Hugo Boss's management should prioritize funding long-term growth and financial flexibility over paying out dividends, Frasers said in a statement late Thursday. It also said the company's stock is undervalued, and called on Hugo Boss to redeem all its treasury shares. Shares of Hugo Boss rose as much as 4.2% in morning trading on Friday, with trading volume about 18 times the average for the time of day. The company, founded by Mike Ashley and formerly known as Sports Direct, is known for acquiring significant stakes in other retailers and using its position to influence board-level decisions. That strategy now appears to extend to Hugo Boss, just weeks after Frasers Chief Executive Officer Michael Murray joined the brand's supervisory board. Frasers and Hugo Boss have had a long relationship that includes the British retailer selling the fashion brand's stock across its stores and online. Ashley's company holds 25% of voting rights in Hugo Boss, according to a filing last month, with exposure to a further 32% through the sale of put options. Frasers said it will support Hugo Boss Chief Executive Officer Daniel Grieder and Stephan Sturm, chairman of its supervisory board, in growing the fashion brand. It also said it does not rule out increasing its stake in the company over the next year, subject to market conditions. In its response, Hugo Boss said it maintains an active and constructive dialog with all shareholders, and appreciates the engagement with Frasers. The company will outline a new strategy at a capital markets day in the fourth quarter, including an evaluation of how capital is allocated to keep aligning the company's long-term goals with shareholder interests. Hugo Boss also said that while it has not seen any downside in keeping 1.4 million treasury shares acquired between 2004 and 2007, it is now considering redeeming them as Frasers requested. Frasers has a history of high-profile clashes with companies in which it held stakes, including with department stores Debenhams and House of Fraser. The business is now run by Murray, Ashley's son-in-law, and has expanded its premium offering with upmarket outlet Flannels. Last year, Frasers walked away from an attempted takeover of British handbag maker Mulberry Group Plc but still pushed for a board seat.
Fashion Network
18 hours ago
- Business
- Fashion Network
Hugo Boss faces dividend opposition from Frasers
Frasers Group Plc warned Hugo Boss AG that it will vote against any dividends, as the British retailer owned by billionaire Mike Ashley exerts its influence after years of building a stake in the German fashion house. Hugo Boss's management should prioritize funding long-term growth and financial flexibility over paying out dividends, Frasers said in a statement late Thursday. It also said the company's stock is undervalued, and called on Hugo Boss to redeem all its treasury shares. Shares of Hugo Boss rose as much as 4.2% in morning trading on Friday, with trading volume about 18 times the average for the time of day. The company, founded by Mike Ashley and formerly known as Sports Direct, is known for acquiring significant stakes in other retailers and using its position to influence board-level decisions. That strategy now appears to extend to Hugo Boss, just weeks after Frasers Chief Executive Officer Michael Murray joined the brand's supervisory board. Frasers and Hugo Boss have had a long relationship that includes the British retailer selling the fashion brand's stock across its stores and online. Ashley's company holds 25% of voting rights in Hugo Boss, according to a filing last month, with exposure to a further 32% through the sale of put options. Frasers said it will support Hugo Boss Chief Executive Officer Daniel Grieder and Stephan Sturm, chairman of its supervisory board, in growing the fashion brand. It also said it does not rule out increasing its stake in the company over the next year, subject to market conditions. In its response, Hugo Boss said it maintains an active and constructive dialog with all shareholders, and appreciates the engagement with Frasers. The company will outline a new strategy at a capital markets day in the fourth quarter, including an evaluation of how capital is allocated to keep aligning the company's long-term goals with shareholder interests. Hugo Boss also said that while it has not seen any downside in keeping 1.4 million treasury shares acquired between 2004 and 2007, it is now considering redeeming them as Frasers requested. Frasers has a history of high-profile clashes with companies in which it held stakes, including with department stores Debenhams and House of Fraser. The business is now run by Murray, Ashley's son-in-law, and has expanded its premium offering with upmarket outlet Flannels. Last year, Frasers walked away from an attempted takeover of British handbag maker Mulberry Group Plc but still pushed for a board seat.
Fashion Network
20 hours ago
- Business
- Fashion Network
Hugo Boss faces dividend opposition from Frasers
Frasers Group Plc warned Hugo Boss AG that it will vote against any dividends, as the British retailer owned by billionaire Mike Ashley exerts its influence after years of building a stake in the German fashion house. Hugo Boss's management should prioritize funding long-term growth and financial flexibility over paying out dividends, Frasers said in a statement late Thursday. It also said the company's stock is undervalued, and called on Hugo Boss to redeem all its treasury shares. Shares of Hugo Boss rose as much as 4.2% in morning trading on Friday, with trading volume about 18 times the average for the time of day. The company, founded by Mike Ashley and formerly known as Sports Direct, is known for acquiring significant stakes in other retailers and using its position to influence board-level decisions. That strategy now appears to extend to Hugo Boss, just weeks after Frasers Chief Executive Officer Michael Murray joined the brand's supervisory board. Frasers and Hugo Boss have had a long relationship that includes the British retailer selling the fashion brand's stock across its stores and online. Ashley's company holds 25% of voting rights in Hugo Boss, according to a filing last month, with exposure to a further 32% through the sale of put options. Frasers said it will support Hugo Boss Chief Executive Officer Daniel Grieder and Stephan Sturm, chairman of its supervisory board, in growing the fashion brand. It also said it does not rule out increasing its stake in the company over the next year, subject to market conditions. In its response, Hugo Boss said it maintains an active and constructive dialog with all shareholders, and appreciates the engagement with Frasers. The company will outline a new strategy at a capital markets day in the fourth quarter, including an evaluation of how capital is allocated to keep aligning the company's long-term goals with shareholder interests. Hugo Boss also said that while it has not seen any downside in keeping 1.4 million treasury shares acquired between 2004 and 2007, it is now considering redeeming them as Frasers requested. Frasers has a history of high-profile clashes with companies in which it held stakes, including with department stores Debenhams and House of Fraser. The business is now run by Murray, Ashley's son-in-law, and has expanded its premium offering with upmarket outlet Flannels. Last year, Frasers walked away from an attempted takeover of British handbag maker Mulberry Group Plc but still pushed for a board seat.
Fashion United
13-05-2025
- Business
- Fashion United
Frasers Group launches retail media network Elevate
British retail group Frasers Group Plc has launched a new retail media network. Dubbed Elevate, the network is based on the group's first-party data. It is designed to help brand partners reach consumers through highly personalised advertising, Frasers announced on Tuesday. With the newly launched platform, Frasers aims to enable brands to engage with customers at crucial moments along the group's physical and digital touchpoints. These include in stores, online, and via external advertising spaces, according to the statement. With a reach of over 30 million customers, the company aims to enable its partners to address target groups in a focused and personalised manner in the future. Elevate combines the group's extensive advertising spaces, including more than 750 stores in the UK, over 60 Everlast Gyms, its own shopping centres, and nationwide out-of-home advertising spaces. Through the analysis and use of customer data from purchasing behaviour, both established and emerging brands should be able to reach their target groups even more effectively along the entire customer journey. 'Elevate is a significant milestone on our journey to build the world's most admired and compelling brand experience ecosystem. With this offering, we are creating a significantly expanded media platform for our brand partners – and this is just the beginning,' commented Michael Murray, chief executive officer of Frasers Group. Elevate will initially be rolled out for the group's Sports Direct, Flannels and Frasers brands in the UK. In the long term, however, the group plans to extend the offering to other international markets. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
