British billionaire Mike Ashley is strengthening his influence over German fashion house Hugo Boss after Frasers Group executive David Epstein was appointed the company’s next chief executive. The appointment follows the announcement that current CEO Daniel Grieder will step down at the end of December 2026, with Epstein scheduled to assume the role on January 1, 2027. According to Reuters, Frasers Group, which is controlled by Ashley, became Hugo Boss’s majority shareholder in October after increasing its stake above 50 per cent. The move follows an unsuccessful €2 billion takeover bid earlier in the year, marking a significant shift in the ownership and leadership dynamics of the luxury fashion company.
Epstein brings more than a decade of experience within Frasers Group, where he currently serves as Chief Brand Partnerships Officer, overseeing relationships across its sports, premium and luxury businesses. He previously led the group’s Premium and Luxury divisions as managing director, helping develop its brand portfolio and commercial partnerships. His appointment follows another important leadership change in September, when Frasers Group chief executive Michael Murray became chairman of Hugo Boss’s supervisory board. Together, the appointments place two senior Frasers executives in influential positions within the German fashion group, strengthening the British retailer’s strategic presence as it seeks to expand its reach in premium and luxury markets.
The transition comes as Hugo Boss navigates a challenging global fashion environment, including softer consumer demand and pressure on its financial outlook. Grieder, who has led the company since June 2021, oversaw the relaunch of its BOSS and HUGO brands under the CLAIM 5 strategy, alongside investments in retail stores, digital operations and its international distribution network. Hugo Boss said Grieder was leaving at his own request and credited his leadership with sharpening the company’s brand positioning. For Ashley, whose Frasers portfolio includes Sports Direct, Flannels and House of Fraser, the expanded influence at Hugo Boss represents another step in a broader strategy to build a stronger presence across the global premium and luxury retail industry.
