BERLIN – Hugo Boss has reached an agreement with its major U.K. franchise partner Moss Bros to acquire 15 monobrand stores and related assets, effective April 1.

The deal, valued at about 19.5 million euros or $26.6 million at current exchange, includes the brand’s Regent Street and New Bond Street doors in London as well as the recently opened New Cathedral Street store in Manchester.

The Moss Bros buyout will increase the number of directly operated Hugo Boss stores in the U.K. to 35.

“This acquisition is a central component of our global growth strategy which relies on increasing own retail in key markets,” stated Boss chief executive officer Claus-Dietrich Lahrs.

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