Frasers Group, the clothing retail conglomerate owned by Mike Ashley, has acquired more than half of Hugo Boss, signalling victory in its months long attempt to take over the luxury retailer.

In a stock market filing on Friday, the House of Fraser and Sports Direct owner revealed that it had raised its stake in Hugo Boss to 50.08 per cent, buying nearly 200,000 shares for €7.63 million. The purchase was funded from the group’s existing cash reserves.

The acquired shares mean that Frasers Group is now functionally in control of Hugo Boss. In the filing, Frasers said that it expects Boss to become a subsidiary of the conglomerate, with the “earnings, assets and liabilities” of the company being consolidated under Frasers.

This marks the end of Frasers’s bid to buy the German retailer, which came to light in June. At the time, Frasers sought to acquire the roughly 70 per cent of Boss it did not own, offering €38 per share. This deal was rejected by the board in July, but it allowed Frasers to increase its holdings to 47.89 per cent of the company by August.

In September, Frasers exerted its influence over the luxury brand, ousting chairman Stephan Sturm and replacing him with its own chief executive, Michael Murray, who is also Mike Ashley’s son-in-law.

At the time, Murray said: “Hugo Boss is exceptionally well positioned, with two strong brands, a unique global footprint and significant untapped potential.”

The takeover is part of Frasers’s ongoing expansion into luxury retail under Murray. The group acquired UK department store chain Harvey Nichols in August, and launched a new high-end division, Frasers Group Luxury, earlier this month.

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