Hugo Boss'S Largest Shareholder, Italy Textile Fabric Enterprise Marzotto Increased Its Shareholding To 15%

Marzotto, Italy's largest textile fabric company, has significantly increased its investment in the German fashion group Hugo Boss AG (Hugo Bosse, referred to as "Hugo Boss"). According to regulatory filing documents, in February 7th, the Marzotto family increased its share of Hugo Boss holdings to more than 15% through Zignago holding group.

Note: Zignago is a glass manufacturer, headquartered in Portrogruaro, Italy, and belongs to Zignago holding group. The Umberto family of Marzotto family has long been the president of Zignago SpA, a listed company.

As a major shareholder of Hugo Boss (major shareholder), the Marzotto family in Italy has held 10% of the brand, and the remaining shares of Hugo Boss are mostly tradable shares, mainly owned by institutional investors. After the release of the investment news, Hugo Boss's share price rose by 5% in the pre market trading in February 17th. It is one of the fastest growing stocks on the German mid-cap index MDAX.

In January 21st, Hugo Boss announced that sales in the fourth quarter of 2019 increased by 5% to 825 million euros compared with the previous quarter. According to the constant exchange rate, the fourth quarter sales growth was 4%, and the annual sales volume of the company was expected to grow 2% and EBIT (pre tax profit) 333 million euros. (see "ornate ambition" in previous reports: Hugo Boss latest quarterly report: Mainland China continued two digit growth, online channel sales increased by 52% )

Hugo Boss will announce its complete fiscal year 2019 in March 5th this year.

In view of the outbreak of the new coronavirus outbreak, like many other brands, Hugo Boss group had to close some Chinese stores and shorten the business hours of other stores, but Hugo Boss said it is too early to assess the impact of the epidemic.

About Marzotto

Marzotto group is a Italy textile manufacturer, headquartered in Val Daniel. Originated from Luigi Marzotto in 1836, the small fabric textile workshop was founded in Valdagno Town, Veneto, north of Italy, and became a leader in the production of cotton, linen, wool and silk fabrics in Italy.

Marzotto S.p.A has three major divisions, namely, MARZOTTO WOOL MANUFACTURING specializing in the production and distribution of wool fabrics, MARZOTTO LAB for the production of natural fibers, cotton, linen and fabric products for velvet and household products, and SETA Production Department of silk production, represented by Ratti S.p.A, and has many well-known yarn and fabric brands.