Hugo Boss’s new CEO reorganizes his best team to relaunch the brand
- New faces for Greater China, Russia and emerging markets
- Plans to relaunch the website in early 2022
- CEO Grieder aims to give the brand Top 100 status
BERLIN, November 4 (Reuters) – Hugo Boss (BOSSn.DE) has shaken up its management team under the leadership of new CEO Daniel Grieder, who wants to make the German fashion retailer one of the world’s 100 biggest brands .
The German label, which raised its outlook for the full year last month after rebounding third-quarter profits, said on Thursday it had reshuffled its management, including for its regions of Greater China, Russia and emerging markets.
Judith Sun will serve as Managing Director for Greater China, former Ralph Lauren executive Luigi Boiocchi will lead a newly formed Emerging Markets and Russia unit, while Christopher Koeber will lead footwear and accessories operations following his arrival. by Tommy Hilfinger last month.
The brand known for its smart men’s suits struggled to revive the business for years before the COVID-19 pandemic forced people to work from home to ditch formal wear for hoodies and hoodies. sneakers.
However, the company on Thursday reported third quarter sales and profits above pre-pandemic levels in the third quarter.
Much of this was attributed to a recovery in Europe and the Americas, although sales fell 1% in the Asia-Pacific region, as new coronavirus restrictions shut down about 10% of its network of stores in the area.
Grieder, the former head of rival brand Tommy Hilfiger, is trying to modernize the Boss brand and is looking to strengthen its appeal to younger consumers by launching more casual styles and spending a lot on marketing with celebrities on social media.
The Swiss CEO, who took office in June, also placed more emphasis on expanding online sales in a strategy he also pursued at Tommy Hilfiger.
Hugo Boss also said Thursday it has set up new digital operations at its German headquarters in Metzingen and the Portuguese city of Porto, with plans to relaunch the brand’s website in early 2022.
Reporting by Emma Thomasson Editing by David Goodman
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