BERLIN — Hugo Boss Group has extended the contract of its chief executive officer, Bruno Sälzer, through 2012.
Sälzer’s contract was due to expire on May 31, 2007, but has been extended five years, a company spokesman said Monday.
Sälzer has headed the Metzingen-based fashion house since 1995. During his tenure, Boss Woman has been successfully turned around, and in the last few years, group earnings have steadily improved. Hugo Boss AG reported net income up 23 percent to 108.2 million euros, or $129.6 million, in 2005 on net sales that gained 12 percent to 1.31 billion euros, or $1.57 billion. The growth came especially from the first-time inclusion of shoes and leather accessories as well as from Boss’ increasing network of freestanding stores.
Boss currently operates 145 company-owned stores, with 47 freestanding units and 98 shops-in-shops.
This story first appeared in the June 27, 2006 issue of WWD. Subscribe Today.