Mike Ashley's Frasers Group has increased its maximum exposure to German fashion house Hugo Boss to 840 million pounds ($954 million) and has built a more than 5% stake in struggling British online fashion retailer ASOS.
Frasers, formerly called Sports Direct, is on a drive to move upmarket and said on Monday it now holds 4.3% of Hugo Boss stock directly and a further 28.5% via the sale of derivatives known as put options.
