Frasers said on Tuesday it has increased its stake in German luxury fashion house Hugo Boss to 15.2% through stocks and derivatives, part of Ashley's ongoing drive to take the British sportswear retailer upmarket.
Onward Luxury Group has been bought from the Onward group by its Italy-based management. Now called High Italian Manufacturing Co., it will continue to run the licensed business of labels like Rochas and Elie Saab.
Frasers Group saw lower sales in its first half, as would be expected given that most of its stores were closed for part of the period. But the fall was relatively small and the company’s profits rose.
Frasers Group is continuing its deep dive into the luxury sector. On Thursday it announced that it has increased its already-large stake in leather goods company Mulberry and could make an offer for the brand.
It may seem like the worst possible time to open a new physical shop, but luxury bag brand Strathberry is betting on the revival of in-person shopping with its first store in key destination, Edinburgh.