Hugo Boss CEO Daniel Grieder says Frasers Group’s growing stake in the German fashion company will not disrupt its strategic direction, despite the British retailer moving closer to majority ownership.

“It doesn’t matter what percentage Frasers ends up with,” Grieder told the Frankfurter Allgemeine Sonntagszeitung, following Frasers’ increase of its Hugo Boss stake to almost 48% through a takeover bid.

Grieder said the two companies remain broadly aligned on Hugo Boss’s strategy, describing their relationship as one of “fundamental agreement.” At the same time, he acknowledged that a major new shareholder can bring a different perspective.

“A new investor naturally brings its own perspective,” he said.

Frasers has invested around €1.5 billion in Hugo Boss and has significantly strengthened its influence despite failing to complete its voluntary takeover bid for the fashion group.

Hugo Boss CEO Daniel Grieder remains unfazed despite Frasers’ stake

Hugo Boss CEO Daniel Grieder remains unfazed despite Frasers’ stake – HUGO BOSS

The British retailer recently secured another important position by installing its CEO, Michael Murray, as chairman of Hugo Boss’s supervisory board. Murray replaced Stephan Sturm, who was previously removed from the position by shareholders led by Frasers. Hugo Boss management had opposed Frasers’ takeover attempt.

Frasers currently owns just under 48% of Hugo Boss and is seeking to increase its holding beyond 50%, potentially giving it majority control. The group has been pursuing greater influence over Hugo Boss since launching its efforts in June.

Despite the ownership changes, Grieder expects to remain CEO. He said he extended his contract at the end of 2024 for another three years because he believes his work at Hugo Boss is not yet finished.

“I still have a lot I want to achieve here,” Grieder said.

Frasers is majority-owned by British billionaire Mike Ashley and operates the Sports Direct retail chain as its best-known business. The group also has investments across the fashion and retail sector, including a stake in online retailer ASOS.

With Frasers approaching the 50% threshold, Hugo Boss is entering a new phase in its relationship with its largest shareholder, while Grieder maintains that the company’s strategic direction remains intact.