Blog: Leonie BarrieHugo Boss to lose its boss

Leonie Barrie | 15 February 2008

The surprise departure of Hugo Boss AG’s long-time CEO has sparked a raft of speculation about the reasons for his decision to leave Germany’s largest clothing company at the end of this month.

The firm will only say it’s due to “different views on the further business policy of the company.”

But the timing, less than six months after private equity firm Permira bought Hugo Boss’ parent, Italy's Valentino Fashion Group SpA, has led speculation over a clash with the new owner.

At the time of the $3.5bn takeover last September, analysts suggested that Permira might intend to merge Hugo Boss with the rest of the Valentino group. Even though this wasn’t confirmed, Permira made no secret of the fact it wanted to broaden the labels’ appeal and customer base.

There’s no doubt Dr Bruno Sälzer will be missed. He’s been with the company for nearly 13 years – the last five in the top spot - and led the luxury brand's international vision and introduction of a women's wear line, the latter helping drive a 20% rise in full year profit in figures released last week.

Hugo Boss CEO to leave


BLOG

How social media is forcing apparel brands to think green

Social media, since its evolution, has undoubtedly changed the world as we know it....

BLOG

TAL refocuses and rebalances before growth

By his own admission, Roger Lee, CEO at Hong Kong based apparel giant TAL Group, is an optimist. And it's a trait that has stood him – and the 70-year-old company he leads – in good stead in recent ye...

BLOG

VF Corp splitting into two companies

Last week started with news that US apparel giant VF Corp is to spin off the group's denim and outlet businesses into an independent, publicly traded company – in a move that will enable it to focus o...

BLOG

Hong Kong sustainability scoop

We led on just-style last week with a world exclusive scoop on a number of new projects being unveiled in Hong Kong next month – including the first mill being set up in the territory in more than hal...

just-style homepage



Forgot your password?