(Alliance News) - Frasers Group PLC has increased its interest in German fashion designer Hugo Boss AG by 1.5 percentage points, according to a company statement on Friday.

The FTSE-100 Derbyshire-based department store operator has a 30% interest via put options that it has sold, up from 28.5% as of October 24, while still owning 4.3% of the shares of Hugo Boss. This gives a 34.3% interest, up from 32.8% previously.

The company said after taking into account the premium it will receive for the put options, its maximum aggregate exposure its interest in Hugo Boss is around EUR1.0 billion.

On October 24, the SportsDirect owner said its maximum exposure for the interest in Hugo Boss was EUR960 million, up from EUR900 million in June. Back then, it held a 4.9% stake via shares and a further 26% via options.

Earlier in October, Frasers also bought a 5.1% stake in FTSE 250-listed online retailer Asos PLC. That would make Frasers the sixth largest shareholder in Asos, according to data from Morningstar.

Shares were up 2.5% at 662.00 pence on Friday afternoon in London.

By Xindi Wei; xindiwei@alliancenews.com

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