The head of the fashion group Hugo Boss wants to bring production back to Europe from Asia. The reason is “geopolitical tensions”. However, there will be no new factories of their own.
The fashion group Hugo Boss wants to bring parts of its production back to Europe from Asia. “Our strategy is: what is sold in America should be produced in America. What is sold in Europe should be produced in Europe,” said Hugo Boss boss Daniel Grieder to the “Welt am Sonntag”. Shipping goods from one continent to another is no longer up to date, said Grieder. Another reason is the “geopolitical tensions”.
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“We want to reduce dependence in procurement and production – even if it would be cheaper to produce only in Asia,” the manager continued. In addition to the existing production in Turkey, Italy and Germany, there should be no new plants of our own. “The expansion of production in Europe and America will be carried out primarily through suppliers.” Grieder did not provide any details.
Hugo Boss is open to acquiring another brand, said the manager: “It can be anything that is within our financial reach: fashion, shoes, accessories.” He is also considering establishing new labels himself – perhaps together with celebrities. “New brands could also emerge internally from collaborations. In the future, we will be working with David Beckham. Why shouldn’t a partnership like this become a separate brand?”
Source: Stern
