BERLIN — Hugo Boss has sold its Munich, Germany-based men’s wear units Baldessarini GmbH & Co. KG and Baldessarini Design und Verwaltungs-GmbH to Werner Baldessarini, effective Sept. 1.
In January, Boss said it was discontinuing Baldessarini, its small, top-of-the-line men’s wear collection, after delivery of the spring 2007 collection. Last year, the brand generated sales of 17.4 million euros, or $22.3 million at current exchange rates, out of total Boss Group sales of 1.3 billion euros, or $1.7 billion. There are currently five Baldessarini stores and the collection is carried by approximately 100 retailers.
Terms of the deal with Baldessarini, Boss’ chief executive officer until 2002 and, prior to that, the group’s long-term design chief, were not disclosed. Boss said the sale will not affect Baldessarini fragrances, which are under license to Procter & Gamble.
Baldessarini was not available for comment, but press reports said he is looking for investors to build up his signature brand business.
This story first appeared in the August 25, 2006 issue of WWD. Subscribe Today.