Who is David Epstein, Hugo Boss’s next CEO?

David Epstein has spent much of his career working with the brands Frasers Group sells. From January 1, he will be responsible for one of them.

Hugo Boss announced on November 12 that Frasers’ chief brand partnerships officer will succeed Daniel Grieder as chief executive. Grieder, who has led the German fashion group since June 2021, will leave at his own request on December 31, the company said.

The appointment brings another senior Frasers executive into Hugo Boss’s leadership. Michael Murray, Frasers’ chief executive, became chairman of the supervisory board in September. The British retailer, controlled by Mike Ashley, then increased its shareholding to 50.08 percent in late October, securing majority control after an earlier takeover offer fell short.

Epstein’s experience is largely in multibrand retail: developing supplier relationships, overseeing department stores and expanding Frasers’ premium and luxury business. Murray described him as an executive who “knows what it takes to build strong brands, elevate the consumer experience, and drive a business forward”.

From Sports Direct to premium and luxury

Epstein joined Sports Direct in 2015 as head of business development. He became managing director of House of Fraser in December 2019, before taking charge of Frasers Group’s premium and luxury division in 2022. His appointment as chief brand partnerships officer followed at the end of 2024, giving him responsibility for brand relationships across the group’s sports, premium and luxury businesses.

That progression placed him at the centre of Frasers’ efforts to move beyond its discount sportswear roots. Under Murray’s “elevation strategy”, the group invested in larger stores, more elaborate shopfits and closer relationships with brands across its retail portfolio.

At House of Fraser, the task was to replace an ageing department store model rather than preserve it. “We inherited an archaic department store business in House of Fraser, the model didn’t work,” Epstein told Retail Gazette in September 2024.

The group closed stores, converted others and developed its Frasers format, often using former Debenhams sites. The new stores put greater emphasis on third-party brands, including Boss, Ralph Lauren and Barbour, alongside footwear, beauty and homeware. Some combined the department store offer with Sports Direct under one roof. By September 2024, the format had reached its thirteenth store, at Sheffield’s Meadowhall shopping centre.

Betting on shoppers outside London

Flannels provides a clearer view of Epstein’s approach to luxury retail. In a November 2024 interview with Retail Gazette, he argued that brands had underestimated customers outside the capital.

“Too often, brands always felt the UK was London, but there’s a whole country outside of [the capital] and we’ve obsessed over that regional consumer,” he said.

By then, Flannels had more than 70 smaller-format stores and a handful of larger flagships. Retail Gazette reported that the chain accounted for the bulk of Frasers Group’s 1.2 billion euros in premium lifestyle sales. Its expansion depended on support from brands including Gucci, Prada, Miu Miu, Balenciaga, Valentino and Bottega Veneta, Epstein said.

The Leeds flagship, housed in a former Debenhams, illustrated the approach. Across six floors and 70,000 square feet, it combined designer fashion with beauty, activewear and a concession from resale specialist Sellier.

Epstein also used the stores to test categories. Recalling discussions about whether to include lingerie in Leeds, he said: “The easiest thing to do is say, ‘don’t put it in’. I said, ‘let’s bring it in, develop it and understand how our consumer wants to shop and what brands’.” Beauty had developed in a similar way, growing from fragrance into seven beauty halls by late 2024.

These examples show his involvement in the retail offer, although Flannels’ wider expansion was a group effort rather than his alone. His contribution sat within the strategy led by Murray and supported by Frasers’ investment.

A different job at Hugo Boss

At Hugo Boss, Epstein will move from managing a retailer’s relationships with multiple labels to running a global fashion business with two principal brands, Boss and Hugo. He takes over during a strategic reset intended to strengthen brand appeal and improve distribution quality.

The financial backdrop is difficult. Third-quarter sales fell 4 percent in reported terms to 946 million euros, or 5 percent on a currency-adjusted basis. Operating profit declined to €81 million from 95 million euros a year earlier. Hugo’s currency-adjusted sales fell 17 percent, compared with a 3 percent decline at Boss.

The company now expects currency-adjusted group sales to decline by a high single-digit percentage in 2026, with operating profit of 250 euros million to 300 million euros. The reduced outlook reflects weaker demand assumptions for the fourth quarter and higher non-cash depreciation and amortisation expenses for IT assets.

Epstein also arrives amid a broader management reshuffle. Yves Müller’s departure as chief financial and operating officer was announced in September, with Ivica Maric succeeding him from October 1. Chief sales officer and deputy CEO Oliver Timm will leave on November 30.

Employee representatives have sought reassurance about the company’s German base. In the announcement of Epstein’s appointment, deputy supervisory board chairman Sinan Piskin said Murray had repeatedly demonstrated his commitment to the headquarters and other locations in and around Metzingen.

From customer to controlling shareholder

Frasers’ ownership adds another consideration: the group is both Hugo Boss’s controlling shareholder and a retailer of its products. Boss was already an established part of the assortment at Flannels and Frasers before the takeover.

That commercial relationship has attracted criticism in the past. In June 2023, TheIndustry.fashion reported concerns among independent retailers and suppliers about Frasers’ discounting and buying practices. The publication noted that more than 3,000 Boss items had recently been listed in Flannels’ online outlet—a historical snapshot, not a current stock count.

For Epstein, the change of role puts brand positioning, distribution and pricing on the other side of the desk. His experience negotiating with suppliers will now inform decisions about how Hugo Boss works with its own retail partners.

Neither Hugo Boss’s appointment announcement nor the Frasers comments set out his plans for the company. His earlier interviews nevertheless suggest a preference for testing new categories, investing in physical stores and maintaining relationships through a downturn.

“Everything we build is medium to long term,” he told Retail Gazette in 2024. At Hugo Boss, his immediate task will be to manage the sales decline while carrying through a reset already under way.

This article was partly written with the support of an artificial intelligence tool before being fact-checked, completed and edited by a FashionUnited journalist.