Is the UK's Frasers Group about to make a bid for Hugo Boss? Some investors in the latter seem to think so as its shares jumped on Friday on speculation that shareholder Frasers has ambitions to take control.
Boohoo on Monday confirmed that it has bought the Debenhams brand for £55m. It will use it to move into beauty and homewares, extend its own brand offering, operate a giant online marketplace and grow internationally.
Fashion, beauty and home retail giant Next reached a milestone on Wednesday as its shares rose and its market capitalisation topped £10 billion. It also has the opportunity to capitalise on the Debenhams collapse.
Frasers Group has bought another company with the purchase of designer fashion retailer Psyche for an undisclosed sum. The company has a 40,000 sq ft shop in Middlesbrough, and a webstore, and employs 58 people in total.
The list of potential bidders for Debenhams has got smaller with news that deep-pocketed Reliance Retail has dropped out. It's also been suggested that the owner of its Oxford Street store wants to break the lease.
Debenhams reported its biggest-ever loss on Thursday and confirmed a plan to close 50 stores as well as saying the beauty market has dipped in recent months. But it’s remaining upbeat and thinks it’s on the right track.