Hugo Boss Sets Sights on Brand Acqusitions

Boss Spring/Summer time 2021. Hugo Boss.

New Hugo Boss chief govt Daniel Grieder desires to purchase different manufacturers with the intention to develop the German vogue home, he was quoted as saying in an interview with Supervisor Magazin.

The German label, which had been struggling to revive its enterprise for years earlier than being hammered by the COVID-19 pandemic, reported a rebound in gross sales within the second quarter as lockdowns eased, significantly in Britain and China.

“We’re pursuing a platform method that may allow us to develop additional additionally by means of acquisitions,” Grieder advised Supervisor Magazin, including he noticed specific potential in Europe, though it was untimely to present any names.

“In Europe, in contrast to in the USA, there are not any greater gamers within the premium sector but.”

The previous head of Tommy Hilfiger additionally dismissed reviews that Hugo Boss may entice new buyers within the quick time period, saying: “That isn’t up for debate for the time being.”

The Swiss CEO, who took excessive job in June, has mentioned it was his ambition to make Hugo Boss one of many world’s prime 100 international manufacturers together with by spending greater than 100 million euros ($118 million) on advertising between now and 2025. ($1 = 0.8498 euros)

By Anneli Palmen and Emma Thomasson

Study extra:

Hugo Boss Returns To Profit Even as Sales Slow

The German go well with maker reported a better-than-expected third-quarter working revenue of €15 million ($17.52 million). | Hugo Boss Units Sights on Model Acqusitions


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