Britain’s Frasers backs Hugo Boss’ strategy and executive team

LONDON: Frasers, the British sportswear and fashion retailer, is “fully supportive” of German fashion brand Hugo Boss’ strategy reset, its finance chief said on Thursday.

Frasers, Hugo Boss’ biggest shareholder with a 25.2% stake, said last week it no longer supported the company’s chairman Stephan Sturm.

However, Frasers’ chief financial officer Chris Wootton said the retailer still backed Hugo Boss’ executive team.

“We are fully supportive of the strategy announced yesterday and Daniel Grieder and his exec team,” he told Reuters.

Wootton, speaking after Frasers published its first half results, declined to comment further on Sturm.