Hugo Boss Opens Bilbao Store Amid Financial Boom; Permira Sells Stake But Remains Largest Shareholder
Hugo Boss has launched a new store in Bilbao while reporting impressive financial growth. Meanwhile, the largest individual shareholder, private equity firm Permira, has sold a significant stake but will remain a substantial investor.
Hugo Boss, the renowned fashion house, opened a new store in Bilbao last week, expanding its retail presence. The company has been performing exceptionally well financially, with a 19% increase in revenue and a 53% rise in profit for the first nine months of the year.
Permira, which has been a major stakeholder in Hugo Boss, has sold a 6.4% stake. However, this sale does not signal Permira's exit from the company. Instead, Permira will remain the largest individual shareholder, retaining a 66% stake. The sale, conducted through The Red & Black, involved 4.5 million preferred shares.
Despite the sale, Permira's significant stake ensures its continued influence in Hugo Boss. The fashion house's strong financial performance and retail expansion indicate a positive outlook for the company.
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