Hugo Boss AG (Germany)

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Hugo Boss is one of Europe's leading designer fashion businesses, and the biggest by far in its home market of Germany. Best known for men's apparel, it has more recently established a presence in women's wear, and has global distribution through almost 8,000 stores as well as its own branded outlets. However the most familiar face of Hugo Boss is arguably its extensive fragrance portfolio, run for more than 30 years by P&G, until its transfer to Coty in Oct 2016. The group enjoyed a generally strong run after 2010 before a sudden halt in 2015. Sales reached a record €2.8bn that year, but the group missed its profit target. A plunge in its share price resulted in the sudden resignation of CEO Claus-Dietrich Lars in Feb 2016, followed by two other members of its executive board. CFO Mark Langer was eventually named as CEO in May. He plans to refocus the business on men's apparel and will exit women's wear. The modern Hugo Boss business was established in the 1970s by Jochen and Uwe Holy, grandsons of the eponymous founder, who ran a men's wear business in Germany from the mid-1920s until his death in 1948. The Holys successfully repositioned Boss as a premium fashion label, before selling out to Italian company Marzotto in 1991, ending their involvement. (They went on to acquire Joop! and other brands). The business passed through several different hands, becoming part of Valentino Fashion Group for a while before it too was broken up. The Marzotto family reacquired a stake of around 8% in 2015, but otherwise the group is now publicly owned. Adbrands does not currently profile this company but subscribers may access account assignments and contact information. The searchable account assignments database is available to full subscribers to premium services. Click here to access Adbrands account assignments (subscribers only); or see here for information on how to subscribe.

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Capsule checked 8th April 2016

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