Frasers Group, owned by British entrepreneur Michael Ashley, has revised its stance towards the leadership at Hugo Boss. According to a voting rights notification published on Tuesday, the major shareholder will now support Stephan Sturm as chair of the label’s Supervisory Board.
This marks a departure from Frasers’ previous position. The investor says it no longer intends to influence the composition of the Supervisory Board to remove Sturm or appoint a new chair.
In addition, Frasers Group welcomes the dividend approved at the 2026 Annual General Meeting and backs the revised dividend policy of the Metzingen-based fashion group. According to Frasers, the group remains committed to the other targets last communicated in November 2025.
In the first quarter, Hugo Boss reported a decline in revenue and profit due to weak consumer sentiment in Europe, ongoing corporate restructuring, and geopolitical headwinds. At the same time, the company beat expectations and benefited from early restructuring effects, with an improved gross margin. The full-year outlook was confirmed.
FashionNetwork.com with dpa
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