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The British retail company said it plans to further increase its interest in the company, including through the purchase of more shares.

Mike Ashley's ​Frasers on ‌Tuesday said it ​was ​reviewing its support ⁠for Hugo ​Boss' ​supervisory board Chair Stephan Sturm, ​as ​it announced an ‌intention ⁠to raise its stake ​in ​the ⁠German retailer ​to ​over ⁠50%.

Mike Ashley's Frasers has raised its stake in German retailer Hugo Boss to nearly 48%, ​it said on Tuesday as the British retailer ‌pushes ahead with its expansion into the luxury space.

Frasers Group PLC (LSE:FRAS), the British retail group, has built its ownership in Hugo Boss, the German fashion business, to 47.89% following the conclusion of its takeover offer. The company confirmed that it secured valid acceptances for 12,157,598 ordinary shares in the luxury fashion brand by the close of the transaction period.

The British retail company said it received acceptances for 12.2 million Hugo Boss shares, or about 17.62% of the German company.