Claus-Dietrich Lahrs, has recently been named the new head of Hugo Boss AG, the German fashion house. Lahrs is slated to start on August 1, 2008. He replaces Bruno Saelger who resigned as managing board chief in February 2008. Lahrs had most recently been the CEO of Christian Dior Couture. He has worked for Christian Dior/Louis Vuitton Moet Hennessy for twelve years. The French group, LVMH, is the largest group in the world for luxury products. In 2007, LVMH made US$25.58 billion.
Although Guiseppe Vita has also resigned from Hugo Boss AG, he praised the appointment of Claus-Dietrich Lahrs as a step toward taking Boss to the next level. Vita was the head of the Hugo Boss supervisory board. Lahrs has stated that it is his intention to add more retail stores and wants to expand the presence of Boss in the Asian and American markets. The announcement of Lahrs appointment caused the shares for Hugo Boss to raise 6% in Frankfort.
Hugo Boss AG is based in Metzingen, Germany. The company specializes in high-end men's ready-to-wear. Their label Boss Black offers sophisticated men and women's collections. Boss Orange and Hugo labels also offer women's collections as well as men's. Only Boss Selection and Boss Green labels are directed to men only. Hugo Boss also had the Werner Baldessarini collection until its recent spin-off to Ahlers AG. The Boss line of fragrances, Hugo, and Hugo Boss, are owned by Procter and Gamble. Procter and Gamble also owns the Baldessarini luxury fragrance line.
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