Frasers Group is thought to be exploring ways it can make its boss Michael Murray the chief executive of Hugo Boss, as it continues its takeover pursuit of the German fashion house.
The report in The Times over the weekend comes as Murray currently sits on the supervisory board of Hugo Boss, of which Frasers now owns 30.28%.
The Flannels owner crossed the threshold that triggers a mandatory bid under German takeover rules last week.
It came as Hugo Boss rejected Frasers’ initial offer at the start of the month, stating the €38 per share proposal (£1.73bn) was “financially inadequate”.
The German brand said the offer went through a comprehensive and independent review process, including two external opinions on the financial adequacy of the offer price.
Hugo Boss reported that it was “well positioned to execute its strategy independently and create sustainable long-term shareholder value”.
It expects to deliver visible operational progress in its current financial year, including improvements in brand and channel realignment and a gradual enhancement of the gross margin profile.
This is not the first time that Frasers Group has sought to install its own leadership at a takeover target. The Sports Direct owner was involved in a public battle with Boohoo Group in the latter end of 2024.
Frasers called for the suspension of Boohoo Group chair Mahmud Kamani and for its own founder Mike Ashley to take the reins of the fashion group. The group lost out to Dan Finley, who was appointed as chief executive in November 2024.
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