Frasers Group, owned by Mike Ashley, has launched a £1.73billion takeover bid for Hugo Boss.
Frasers already owns just over 25% of Hugo Boss, but now wants to purchase the rest of the brand outright.
Ashley's retail group is seeking to grow its portfolio, which already boasts House of Fraser, Game, Jack Wills, Evans Cycles, Sports Direct and more.
The BBC reports the bid for profit-making Hugo Boss represents a different approach for Frasers Group, which has developed a reputation for coming in for struggling companies that have fallen into administration.
Hugo Boss said it would "thoroughly examine the offer and issue a reasoned statement".
The £1.73billion bid values Hugo Boss shares at €38, an increase on the €36.50 it closed at on Wednesday.
Hugo Boss has stated the offer is "unsolicited" and had not been "coordinated with the company".
The company added it would "inform its shareholders and the public about further developments and next steps".
Frasers highlighted that "remains supportive" of Hugo Boss' chair and chief executive amid the takeover bid.
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