Fashion company Hugo Boss wants to return some of its products to Europe to bring This is reported by “Handelsblatt”. CEO Daniel Grider said in an interview that the production of products that are sold in America and Europe should also take place on these continents in the future. “Sending goods from one continent to another is no longer appropriate,” Handelsblatt quoted Hugo Boss CEO as saying.
According to the report, the main reason for the planned event is geopolitical tension. Grider stated that Hugo Boss wanted to reduce its reliance on purchasing and manufacturing, even if manufacturing in Asia would be more cost-effective. According to the report, Grider was open to acquiring additional brands. The focus is on fashion, shoes and accessories.
Hugo Boss has almost 19,000 employees
Hugo Boss Group employed 18,700 people in 2023. The headquarters of the company is located in Metzingen, Baden-Württemberg.
according to the information on Group website Hugo Boss currently manufactures “14 percent” of its products “in its own factories in Germany, Poland, Turkey, Italy and Switzerland.” Then it is said: “86 percent of finished goods and a significant portion of processed raw materials come from suppliers around the world.” Much is likely to change in the future.
Last year, Hugo Boss AG had sales of 4.2 billion euros and a profit of 258 million euros. Currently scores Hugo Boss market value: 3.13 billion euros.
