New Hugo Boss CEO overhauls top team to revive brand

By Emma Thomasson

BERLIN (Reuters) - Hugo Boss has shaken up its senior management team under new chief executive Daniel Grieder, who wants to make the German fashion retailer one of the world's top 100 global brands.

The German label, which raised its full-year outlook last month after third-quarter earnings rebounded, on Thursday said it had reshuffled management, including for its Greater China, Russia and emerging markets regions.

Judith Sun will be managing director for Greater China, former Ralph Lauren executive Luigi Boiocchi will lead a newly created emerging markets and Russia unit while Christopher Koeber will head shoes and accessories operations after his arrival from Tommy Hilfinger last month.

The brand known for its smart men's suits had been struggling to revive the business for years before the COVID-19 pandemic prompted people forced to work from home to abandon formal wear for hoodies and sneakers.

However, the company on Thursday reported third-quarter sales and profit above pre-pandemic levels in the third quarter.

Much of that was attributable to a revival in Europe and the Americas, though sales fell 1% in the Asia-Pacific region, as renewed coronavirus restrictions closing about 10% of its store network in the region.

Grieder, the former head of rival label Tommy Hilfiger, is trying to modernise the Boss brand and is seeking to boost its appeal for younger consumers by launching more casual styles and spending heavily on marketing with celebrities on social media.

The Swiss CEO, who took over in June, has also placed greater emphasis on expanding online sales in a strategy he also persued at Tommy Hilfiger.

Hugo Boss also said on Thursday that it has set up new digital operations at its German headquarters in Metzingen and in the Portuguese city of Porto, with plans to relaunch the brand's website in early 2022.

(Reporting by Emma Thomasson; Editing by David Goodman)