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Mike Ashley’s Frasers Group Raises Stake in Hugo Boss

Germany’s Hugo Boss is in the process of shifting its offerings toward more casual fashion.

Germany’s Hugo Boss is in the process of shifting its offerings toward more casual fashion.

Photographer: Brendon Thorne/Bloomberg
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British sporting goods billionaire Mike Ashley’s Frasers Group Plc raised its stake in fashion retailer Hugo Boss AG, ramping up its exposure to the German retailer as it works on a rejuvenation effort. 

Frasers valued the new holding at about 900 million euros ($944 million) in a statement Wednesday, two years after first investing about 108 million euros in the maker of Hugo athleisure leggings.