HUGO BOSS takes over last franchise operations in China
HUGO BOSS will take over the last stores in the Chinese market that are still operated under the franchise model. The agreement reached with the partner Wenzhou Noble on January 26, 2015 provides for control over all 21 BOSS stores to be transferred to HUGO BOSS on April 1, 2015. This will enable the Group to implement its strategy, which aims at enhancing the brand image and upgrading the retail network, in an even more targeted manner and consistently across all channels.
No other events requiring disclosure
Between the end of fiscal year 2014 and the release for publication of this report on February 19, 2015, there were no further notable macroeconomic, socio-political, industry-related or company-specific changes which could have a material impact on the Company’s results of operations, net assets and financial position according to the expectations of management.
Changes in shareholder structure as a result of share placements
Finally, HUGO BOSS AG’s shareholder structure changed on February 10, 2015 following two share placements by Red & Black Lux S.à r.l., an entity in which Permira Holdings Limited holds a majority interest. Prior to the placements, this entity had held 22.4 million shares, equivalent to 32% of the share capital, and was thus the largest single shareholder. Following the placement of 9 million shares with institutional investors and the sale of a further package of just under 5 million shares to PFC S.r.l. and Zignago Holding S.p.a., which are owned by the Italian Marzotto family, it now holds just under 8.5 million shares, equivalent to 12% of the share capital.