Hugo Boss news and archive

Stephan Sturm to take over as chairman of Hugo Boss supervisory board

Hugo Boss has announced that Stephan Sturm, 61, will take over as chairman of the company’s supervisory board following the next annual shareholders' meeting. The company’s nomination committee has proposed him as successor to Hermann Waldemer. In addition, the company said Andreas Kurali, 59 and Michael Murray, 35, will run for election to the...

Business

Hugo Boss launches independent recycling company

German fashion company Hugo Boss has launched an independent company called Eightyards to focus on recycling and reusing surplus materials from the group’s fashion brands. In a statement, Hugo Boss said that Eightyards has been developed to be “strategically aligned with Hugo Boss's comprehensive commitment to environmentally and...

Fashion Featured

Boss launches ski range as luxury brands eye growing winter sports market

The luxury ski apparel market is witnessing renewed attention as Boss becomes the latest premium brand to expand its winter sports offering, signalling growing confidence in the category's commercial potential. The German luxury house has unveiled a comprehensive ski capsule collection, marking a strategic push into a segment that industry...

ManagementFeatured

Hugo Boss Q3 sales remain flat, maintains 2024 outlook

In the third quarter, Hugo Boss managed to increase currency-adjusted sales by 1 percent in a challenging market environment. In group currency, revenues amounted to 1,029 million euros in the quarter, slightly above the prior-year level. Supported by the third-quarter performance, the company’s currency-adjusted sales rose 2 percent and in...

Business

Hugo Boss Foundation invests in Indian cotton fibre project

The Hugo Boss Foundation has signed a partnership with the Grameena Vikas Kendram Society of Rural Development (GVK Society), an Indian grass-roots non-profit organisation with the mission to build regenerative, circular and socially inclusive agricultural value chains that optimise value for smallholder farmers and indigenous communities. This...

Report

Hugo Boss and Movado Group extend partnership to 2031

Watchmaker Movado Group has announced the extension of its licensing agreement with German fashion brand Hugo Boss, expanding the duo’s partnership until December 31, 2024. Included in the agreement is an option for Movado subsidiary, MGI Luxury Group S.A., to potentially further prolong the agreement for an additional five years, subject to...

Business

Frasers Group plans to increase stake in Hugo Boss again

British retail group Frasers Group Plc would like to increase its stake in Hugo Boss AG again, according to an entry at the Federal Cartel Office. It is not yet known by how many percent Frasers intends to increase its shares in the Metzingen-based fashion retailer. The British company currently holds the shares, which have been increasing and...

Report

Frasers Group increases stake in Hugo Boss

British retail group Frasers Group Plc has once again increased its stake in the German fashion retailer Hugo Boss AG. The Frasers Group "exceeded the threshold of 10 percent of the voting rights attached to shares in Hugo Boss AG on July 17, 2024 and the threshold of 15 percent on July 22, 2024" and "currently directly holds over 15 percent of...

Report

Hugo Boss sells Russian business to Stockmann

German fashion brand Hugo Boss has sold its business in Russia to its wholesale partner Stockmann. A purchase price was not disclosed, according to reporting news platform Reuters, however it is known that Russia requires foreign companies to sell assets at a discount of at least 50 percent. In its 2023 annual report, Hugo Boss valued the assets...

Report

Hugo Boss sells Russian business to Stockmann

Hugo Boss sells its business in Russia to its wholesale partner Stockmann. A purchase price was not disclosed, as the Reuters reported on Monday. However, it is known that Russia requires foreign companies to sell assets at a discount of at least 50 percent. In its 2023 annual report, Hugo Boss valued the assets for sale in Russia at 27 million...

ManagementFeatured

Weak consumer demand impacts Hugo Boss results

In the second quarter of 2024, Hugo Boss sales reached 1,015 million euros, representing a decline of 1 percent, both currency adjusted and in group currency. As announced on July 15, operating profit (EBIT) decreased by 42 percent to 70 million euros in the second quarter, reflecting lower revenues and higher operating expenses. The company...

ManagementFeatured

Hugo Boss lowers full year outlook after challenging Q2

Hugo Boss sales decreased 1 percent currency-adjusted to 1,015 million euros in the second quarter. The company attributed the decline to challenging macroeconomic and geopolitical conditions weighing on global consumer demand. Lowering its full-year outlook, the company said it expects sales of around 4.20 billion euros to 4.35 billion euros,...