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 limited presence in women's wear, and has global distribution through almost 7,800 stores as well as around 440 of its own branded outlets. There are now two lines: classic and higher priced Boss; and more casual lower priced Hugo. Colour-coded brands Boss Orange, Boss Green and so on were discontinued in 2017 in favour of the main Boss brand. However the most familiar face of Hugo Boss is probably 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, followed by two other members of its executive board. CFO Mark Langer was eventually named as CEO in May 2016. Revenues for 2017 were below past highs at €2.7bn, but profitability has recovered. 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 launch Strellson, and acquired Joop! and other brands). Hugo Boss 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 what is now around 10% in 2015, but otherwise the group is 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 Adbrands.net 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 27th April 2018
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