The Hugo Boss boss about his new strategy

Metzingen The new CEO of Hugo Boss is convinced that the largest German fashion group can compensate for the loss of business caused by the Ukraine war. “We can compensate for that in other regions,” says Daniel Grieder in an interview with the Handelsblatt.

Eleven franchise stores in Ukraine and 28 own stores in Russia are closed. In view of the dramatic development, it is becoming increasingly unlikely that Hugo Boss will ever return to the old situation in the countries. Before the outbreak of war, business in the Ukraine and Russia contributed a total of three percent to group sales.

By 2025, the CEO, who has been in office since last June, wants to increase sales from 2.8 to four billion euros. The women’s collection should also help, with sales expected to double to 400 million euros by 2025. Grieder is already seeing high growth in the fall collection: “We have 40 percent more pre-orders than last year.”