When the Permira funds invested in Hugo Boss and Valentino Fashion Group in 2007, it was primarily a wholesale clothing supplier to department stores and individual retailers employing fewer than 10,000 people globally. Today, it is one of the biggest names in top-end fashion with a broad product range.
Despite facing a recession shortly after investment, the company continued with its ambitious expansion plans with the Permira funds’ backing. It invested into the brand, its products and an enlarged retail network, particularly in Asia and the US. In 2012, Permira IV sold Valentino to Qatari investors, and the following year Hugo Boss registered record sales and profit growth.
Permira sold the business in 2014 after seven years of successful partnership, growing global store numbers from 287 to 1,040, creating thousands of jobs and realising a 2.3x return for investors.
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