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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.