MILAN — Hugo Boss is feeling the pressure of an activist investor.
London-based Bluebell Capital Partners, which took a minority, undisclosed stake in the German marquee apparel company last December, addressed the board and the company’s president Michel Perraudin with a letter urging an overhaul of the firm’s strategy refocusing on fundamentals such as products, flagships and communication.
Speaking with WWD on Thursday, Francesco Trapani, the former Bulgari and LVMH Moët Hennessy Louis Vuitton executive and chairman of Bluebell Capital Partners, said Hugo Boss’ structure “is big and articulated and the company generates strong profits but its performance in the past three to four years has been unsatisfying when compared to other similar businesses.”
The entrepreneur offered other investors share the same sentiment although he declined to provide specific names.
Headquartered in Metzingen, Germany, Hugo Boss is listed on Frankfurt’s Stock Exchange. The company’s 88 percent of shares are on the free float, while other main shareholders include PFC Srl and Zignago Holding SpA, both controlled by the Marzotto family, which together retain a 10 percent stake in the firm.
Contacted by WWD, a Hugo Boss spokesperson said the company “maintains an open dialogue with all shareholders that are interested in the company and looks
London-based Bluebell Capital Partners, which took a minority, undisclosed stake in the German marquee apparel company last December, addressed the board and the company’s president Michel Perraudin with a letter urging an overhaul of the firm’s strategy refocusing on fundamentals such as products, flagships and communication.
Speaking with WWD on Thursday, Francesco Trapani, the former Bulgari and LVMH Moët Hennessy Louis Vuitton executive and chairman of Bluebell Capital Partners, said Hugo Boss’ structure “is big and articulated and the company generates strong profits but its performance in the past three to four years has been unsatisfying when compared to other similar businesses.”
The entrepreneur offered other investors share the same sentiment although he declined to provide specific names.
Headquartered in Metzingen, Germany, Hugo Boss is listed on Frankfurt’s Stock Exchange. The company’s 88 percent of shares are on the free float, while other main shareholders include PFC Srl and Zignago Holding SpA, both controlled by the Marzotto family, which together retain a 10 percent stake in the firm.
Contacted by WWD, a Hugo Boss spokesperson said the company “maintains an open dialogue with all shareholders that are interested in the company and looks
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