HUGO BOSS GROWTH: The German fashion house Hugo Boss AG on Wednesday provided fiscal 2004 guidance that included a sales gain of 8 to 10 percent from 2003’s volume of 1.05 billion euros, as well as a 12 to 14 percent increase in operating profit from last year’s 119 million euros. The company said previously that it expected increases, but did not provide details. Chief executive officer Bruno Sälzer said Boss Woman is expected to “report growth in excess of 30 percent.” Last year, the Boss women’s division posted sales of 50.8 million euros. In addition, the fashion firm said preorders for 2005’s spring-summer season are anticipated to grow 8 percent from the comparable 2004 period. Preorder volumes represent 60 percent of Hugo Boss sales, the company said.
TOUGH TIMES: Part of Balmain, the troubled Paris couture house that filed for bankruptcy protection this spring, will be liquidated with 58 people losing their jobs, according to French press reports late Wednesday. The company could not immediately be reached for comment. Reports said a court in Angers, south of Paris, had ruled that Balmain subsidiary Confection et Logistique d’Anjou would be liquidated. In all, Balmain employs 160 people.
This story first appeared in the September 9, 2004 issue of WWD. Subscribe Today.