FRANKFURT (Dow Jones) – The head of fashion group Hugo Boss, Daniel Greider, wants to bring production back from Asia to Europe. He told the newspaper Welt am Sonntag: “Our strategy is: What is sold in America must be produced in America. What is sold in Europe, in Europe. Sending goods from one continent to another is no longer appropriate.” The reason is “geopolitical tensions.”
“We want to reduce dependence on procurement and production – even if it is cheaper to produce only in Asia,” the director said. However, there should be new factories in addition to the existing production in Turkey, Italy and Germany. “The expansion of production in Europe and America is primarily through suppliers,” Greider said.
Hugo Boss is open to acquiring another brand: “It could be anything within our financial reach: fashion, shoes, accessories,” the manager said. He is also thinking about creating new brands himself – for example with celebrities.
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(End) Dow Jones News Agency
June 21, 2024, 7:00 PM ET (11:00 PM GMT)
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