Frasers Group has increased its stake in Hugo Boss again with the UK business releasing a brief statement on Friday to that effect.

It said it now holds 1,740,161 shares of common stock, representing 2.47% of Hugo Boss’s total share capital. And it has 9,797,500 shares of common stock via the sale of ‘put options’, adding up to 13.92% of Hugo Boss’s share capital. All in all, it has control of a sizeable chunk of the luxury fashion giant’s shares.

After taking into account the net premium it will receive, Frasers Group’s maximum aggregate exposure in connection with its net acquired interests in Hugo Boss (with the common stock holding valued at the closing share price on 29 May) is approximately €360 million or £305 million.

It didn’t specify the price it paid for the shares, but it’s clear that Hugo Boss isn’t trading for the kind of bargain basement price that Frasers often pounces on when buying brands or stakes in brands.

However, the shares could still be said to be a bargain. They may be up 174% since Hugo Boss first listed on the stock exchange over a quarter of a century ago, but they’re down 8% in the past five years, down nearly 25% in the past 12 months, down 27% so far this year and 5% in the past month alone.

The current price of €48 gives Hugo Boss a market value of €3.39 billion in total.

Meanwhile, in other Frasers Group news, it’s still expected that the business will be the one to take over the British operations of Ted Baker. But reports have claimed that the firm’s HQ staff won’t be included in any deal and that means almost 100 employees in limbo.

The current situation could continue for several months as administrator Teneo hammers out the deal and restructuring specialist Hilco helps it clear stock.

Ted Baker stores are plastered with huge clearance sales signs not only in the UK but abroad with news of closure of the North American chain and webstores having been announced earlier this month.