Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)

Exited Exit Completed

HUGO BOSS is a German fashion company.

Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)

Exited Exit Completed
Revenue(RF), mln.USD
79
Assets(RF), mln.USD
41
Capital(RF), mln.USD
11
Glob.Revenue, mln.USD
4541
Staff(RF), 2021
196
Taxes(RF), mln.USD
4
Shops
19

"HUGO BOSS RUS" LLC (tax id 7705998285). It also has trade relations with the local company "BRENTA" LLC, tax id 7706765460. Company HUGO BOSS RUS received plenty of direct shipments from Hugo Boss AG as of March 31, 2023, based on the Russian customs data. A lot of customs transactions ~18k in a year. 08.2024: JSC ""STOCKMANN"" becomes the new founder of the organization. The entry about the founders ""HUGO BOSS AG"" and ""HUGO BOSS INTERNATIONAL B.V."" has been removed from the Unified State Register of Legal Entities. 08.13.2024: The name has been changed from LLC ""HUGO BOSS RUS"" to LLC ""LINK FASHION"".

The Company Statement
August 05, 2024

Promised to suspend retail business operation, e-commerce and close the stores. Made a donation to Red Cross but later there were proofs found that the company is continuing to sell its goods in Russia and "HUGO BOSS RUS" LLC is still active and received revenues in 2021-2022. Company HUGO BOSS RUS receives plenty of direct shipments from Hugo Boss AG as of March 31, 2023, based on the Russian customs data. A lot of transactions ~18k in a year. Promised to suspend retail business operation, e-commerce and close the stores. Stockmann became the buyer of the Russian business of the German clothing manufacturer Hugo Boss, which included 19 stores in Russia at the end of 2022. The deal, according to experts, could cost 800 million rubles, taking into account all the discounts. with a market value of the business of 1.8 billion rubles. Hugo Boss sold Russian business to wholesale partner Stockmann. "We can confirm that our Russian subsidiary has been sold to Stockmann JSC – a company belonging to one of Hugo Boss's long-standing wholesale partners in the country," Hugo Boss said. Neither party has disclosed financial terms of the deal, but Russia demands that foreign companies sell assets at discounts of at least 50%. Stockmann did not respond immediately to a request for comment. Russian corporate filings showed that the deal closed on Aug. 2 and that Stockmann JSC now owns 100% of Hugo Boss Rus with a nominal value of 40 million roubles ($470,588). Hugo Boss appears to be back, with two stores recently opened in the sprawling Evropeyskyi shopping center near Kyivskyi Station in Moscow, and more are said to be on the way. Despite the closure of outlets since the start of the war, B4Ukraine, a coalition calling on Western companies to sever ties with Russia, criticized Hugo Boss for continuing wholesale deliveries. This meant that the Russians were never truly without their beloved Boss. The firm said in a statement that it is "no longer present in Russia with its own legal entity", explaining that the reopened stores are managed by a former wholesale partner who bought the Russian subsidiary of Hugo Boss.

October 23, 2024What Russian boycott? How a Mail investigation discovered British brands from Barbour to Burberry, Mothercare, Rolls-Royce and Land Rover are still being sold in Russia
August 05, 2024Retailer Stockmann Buys Hugo Boss Russia
August 05, 2024Retailer Stockmann Buys Hugo Boss Russia
August 02, 2024LLC "HUGO BOSS RUS" - Moscow - General Director Kokorev A.A. - INN 7705998285
May 06, 2024Kremlin wardrobe. Who and how from the leading fashion brands are dressed by Russians
April 26, 2024Hugo Boss sells Russian business: Calls for transparency and commitment to Ukraine's reconstruction
April 24, 2024Stockmann buys the Russian business of Hugo Boss
September 14, 2023Never Can Say Goodbye. Despite Corporate Boycotts, Western Luxury Brands Are Still for Sale in Russia
July 16, 2023Man Suits Exports into Russia
July 02, 2023Berlin: protests against Hugo Boss' business in Russia
June 16, 2023The Hugo Boss company, which announced its exit from Russia, is the leader in revenues among brands in the Russian Federation
June 14, 2023Hugo Boss in Russia: bad style
May 31, 2023The way around the sanctions
May 15, 2023Letter sent by B4Ukraine to the company (no response provided)
May 03, 2023Hugo Boss Exports into Russia
May 02, 2023LLC "HUGO BOSS RUS", Moscow, TIN 7705998285, contacts, details, financial statements and extract from the Unified State Register of Legal Entities
March 13, 2023Customs officers in Primorye detained 25 tons of counterfeit clothing from China
April 10, 2022HUGO BOSS achieves strong comeback in 2021
HUGO BOSS Group: Russia location
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Company statements and statistical data are collected from open sources and official registers according to the methodology of the KSE Institute.
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