Frasers Group recently stated it holds a 47.89% stake in Hugo Boss after the acceptance period for its offer ended. Last month, the British retail company, founded by billionaire Mike Ashley, disclosed holding 33.05 million shares, representing 47.89% of the German premium fashion group. In June, Frasers launched an offer to acquire the remaining stake for 1.93 billion euros ($2.24 billion).

On Tuesday, the company announced plans to further increase its interest in Hugo Boss, aiming to build a position above 50%. Frasers is also reviewing whether it will continue to support Stephan Sturm as chairman of Hugo Boss's supervisory board. Hugo Boss did not immediately respond to a request for comment.

The development highlights Frasers' growing influence in the premium fashion sector as it weighs its strategic support for the German company's leadership.