BERLIN Reuters - New Hugo Boss chief executive Daniel Grieder wants to buy other brands in order to grow the German fashion house, he was quoted as saying in an interview with Manager Magazin.
The German label, which had been struggling to revive its business for years before being harmed by COVID- 19 pandemic, reported a rebound in the first quarter of sales as lockdowns eased, particularly in Britain and China.
We are pursuing a platform approach that will enable us to grow further through acquisitions, Grieder told Manager Magazin, adding he sees specific potential in Europe, although it was premature to give any names.
In Europe, unlike in the United States, there are no bigger players in the premium sector yet. The former head of Hugo Boss rejected reports that Tommy Hilfiger might attract new investors in the short term, saying: That is not up for debate at the moment. The Swiss CEO, who took over the top job in June, has said it was his ambition to make Hugo Boss one of world's top 100 global brands including by spending more than 100 million euros on marketing between now and 2025.