The Hugo Boss fashion group can compensate for the loss of business caused by the Russian war in Ukraine, according to its CEO Daniel Grieder. “We can compensate for that in other regions,” said Grieder in an interview with the “Handelsblatt” published on Monday.
Eleven franchise stores in Ukraine and 28 own stores in Russia are closed. In view of the dramatic development, it is becoming increasingly unlikely that Hugo Boss will eventually return to the old situation in the countries, said the CEO. Before the outbreak of war, business in the Ukraine and Russia contributed a total of three percent to group sales. (dpa)