Fashion house Hugo Boss AG says its Boss Woman line will not turn in a profit before 2004.

In an interview published today, the company's chief executive Bruno Salzer tells Stuttgarter Zeitung that the start-up phase for Boss Woman has been bumpy.

He says Boss Woman made a loss of 24 million in 2001, and the cost of moving the unit's headquarters from Mailand to Metzingen cost an additional 10-20 million euros.