Frasers Group has pushed its Hugo Boss stake above the 30% threshold, triggering a mandatory takeover offer under German rules, after buying about 2.55 million more shares (roughly 3.69% of the stock). The total holding now sits around 30.28%, with Frasers’ €38-per-share cash bid valued at close to €2 billion and still open for acceptance, having been launched earlier in the year. Hugo Boss’s management and supervisory boards have urged investors to reject the bid, arguing it undervalues the company and noting it reflects only the minimum price. The bid’s window remains open, with the offer deadline set for 27 July, while Frasers has signaled it does not plan to increase the price. The development comes after Frasers already owned about a quarter to a fifth of Hugo Boss and had previously pursued other takeover targets, underscoring a persistent expansion push by the group. This sequence highlights the tension between Frasers’ strategic ambitions and Hugo Boss’s stance that the offer does not reflect its standalone value or long-term potential.