Hugo Boss has suspended its share buyback program after Frasers Group revealed plans to increase its ownership stake in the German fashion company beyond 50%, intensifying the battle for control of one of Europe’s best-known premium fashion brands.
The Metzingen-based fashion house said Tuesday that it would end the buyback initiative launched on August 24. The decision follows Frasers Group’s announcement that it intends to become the controlling shareholder of Hugo Boss after a previous takeover attempt failed to secure enough support from investors.
