Hugo Boss, Marzotto up to 15% in the capital

Hugo Boss, Marzotto up to 15% in the capital

The Marzotto family has increased its stake in the capital of the German clothing group Hugo Boss, of which it was already the main shareholder, to over 15% through its holding company Zignago. The Marzotto family has so far held 10% of the capital and represented the most important shareholder of Hugo Boss, given that the rest of the shares are held by a large number of private shareholders. In the fourth quarter, Hugo Boss’s turnover achieved growth 5% to 825 million euros (+ 4% at constant exchange rates). For the full year, the company expects a 2% increase in turnover and a pre-tax profit of 333 million euros. The team will publish the final annual results on March 5. Like many other brands, due to the coronavirus Hugo Boss has had to close some stores in China or reduce opening hours. According to the company, it is still too early to accurately estimate the economic impact of the epidemic