Frasers Group has reduced its stake in Hugo Boss after previously upping its investment into the luxury fashion house.

The business, which also owns Sports Direct and House of Fraser, said it now owns 3.9% of Hugo Boss’s total share capital, a reduction from the 4.3% that it previously owned.

The retail empire, headed up by billionaire entrepreneur Mike Ashley, has been pursuing ambitious growth and expansion plans in recent months.

In October, it upped its investment in ASOS, becoming the fourth largest shareholder in the online fashion retailer.

At the same time, it announced it was increasing its maximum exposure to German fashion brand Hugo Boss to about £840 million from £770 million previously. On Friday, Frasers revealed its maximum exposure in Hugo Boss had dropped to around £580 million.

Hugo Boss, which is listed on Germany’s Frankfurt Stock Exchange, has enjoyed a boost in its share

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British Airways (BA) is replacing its nearly 20-year-old uniforms with updated ensembles designed by British, Ghanaian Savile Row designer and tailor Ozwald Boateng OBE.

The uniforms will replace those previously designed by Julien MacDonald and will be worn by more than 30,000 of the airline’s colleagues from the Spring of 2023.

The collection features a tailored three-piece suit for men with regular and slim-fit style trousers. For women, a dress, skirt, and trouser option is available, as well as a jumpsuit – an airline first.

Sean Doyle, British Airways’ Chairman and CEO, said: “Our uniform is an iconic representation of our brand, something that will carry us into our future, representing the very best of modern Britain and helping us deliver a great British original service for our customers… We wanted to create a uniform collection that our people are proud to wear.”

Boateng, who

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Principals of 15 companies are going to have very interesting discussions with Frasers Group in the coming days and weeks.

Whether the chats will lead to investment, expansion, closure, partial closure, name change or disposal is something that has been intriguing a large part of the branded fashion sector since it was revealed on Friday 16 December that JD Group had “divested 15 attractive, but non-core, brands” to its arch-rival Frasers Group for £47.5m.

This early Christmas selection box included a surprising mix of businesses from the long-established and substantial to the little-known and modest in size.

Operating in the designer sector are Cricket, Choice and Giulio. Tessuti, Scotts and Xile are in the premium menswear sector. In kidswear, Base Childrenswear and Kids Cavern are included. Discount websites in the deal are Clothingsites (including Brown Bag Clothing) and Topgrade Sportswear (including Get The Label).

The other five are contemporary menswear

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