British billionaire Mike Ashley, founder of the Frasers Group (a major UK retail conglomerate built on discount sportswear), is seeking to raise his stake in German fashion house Hugo Boss from roughly 48 percent to above 50 percent, a move that would give him outright control of the storied luxury brand. Ashley, 61, built his fortune from a single sports shop opened in 1982 with a £10,000 family loan, expanding it into a discount retail empire of around 1,500 stores through a strategy of bulk buying, razor-thin margins, and aggressive cost-cutting. His pursuit of Hugo Boss marks a broader push into the premium segment, following acquisitions including the British luxury department store Harvey Nichols, though his reputation for ruthless business practices — including allegations of poor working conditions and the covert surveillance of rivals — has made his growing influence over the heritage German brand a source of significant concern.