Frasers Group, the parent company of Sports Direct, continues with its portfolio investments in the fashion sector, acquiring a 5.1 percent stake in Hugo Boss in the form of shares and derivative put options. If the options are fully exercised, the total exposure would be worth a maximum of around £97 million (€108.3m-$121.8m). A few days earlier, Mike Ashley, Frasers’ chief executive and major shareholder, further raised his stake in Four Marketing from 32.5 percent to 49 percent. The agency represents fashion brands such as Stone Island, Paul & Shark, CP Company and Jack Wills in the U.K. Some of them are sold in the Flannels chain of 45 luxury fashion stores, which is fully owned by Frasers. Ashley first invested in Four Marketing in 2015, buying a stake of 25 percent. Two years later, the agency bought a British brand of high-end lingerie, Agent Provocateur, through a pre-packaged bankruptcy process.