Italian textile manufacturer Marzotto has recently raised its stake in German fashion brand Hugo Boss. Through its entity Zignago Holding, the Marzotto family now holds over 15% of the company, up from their previous ownership of 10%. This makes Marzotto the largest shareholder in Hugo Boss, with the remaining shares owned by institutional investors.

As a result of this news, Hugo Boss saw a nearly 4% increase in its shares, making it one of the top performers on the MDAX. The fashion brand also reported a 5% sales growth for the fourth quarter of 2019, reaching €825 million. When adjusted for currency exchange, this represents a 4% increase. Looking ahead, Hugo Boss is anticipating a 2% growth in currency-adjusted sales for the full year, along with an estimated EBIT of €333 million. The company is scheduled to release its final results for 2019 on March 5th.

However, Hugo Boss, like many other brands, has been impacted by the coronavirus outbreak in China. Some of its stores have been temporarily closed, while others have reduced their opening hours. It is still too early to determine the full extent of the impact on the company.

Marzotto’s increased investment in Hugo Boss reflects their confidence in the brand’s potential. As the largest shareholder, they are in a strong position to support the company’s growth and strategic initiatives. Industry experts will closely monitor this development as they assess the future direction of Hugo Boss and its implications for the fashion market as a whole.

Useful links:
– [Hugo Boss Official Website](https://www.hugoboss.com/)
– [Marzotto Official Website](https://www.marzotto.it/)