Germany : Hugo Boss not to buy Valentino

Chief Executive Bruno Saelzer of German fashion firm Hugo Boss denied any plans to buy Italian majority shareholder Valentino Fashion.

He informed that they were focusing on developing Hugo and was unaware if Valentino were interested in Hugo Boss business. He was referring to market rumors about takeover of Valentino or merger of both brands.

He informed that the firm expected shoe and accessories sales to reach 100 million euros in 2005 and confirmed introducing children's wear as a new venture.

Hugo Boss will not only reach its 2005 sales and profit targets, but will post stronger sales growth in 2006, he predicted.

Fibre2fashion.com