Apparel Online Bangladesh Magazine July' 17 | Page 50

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Hugo Boss appoints new CFO

Hugo Boss, one of the world’ s largest fashion company, has appointed Yves Müller as the new Chief Financial Officer. Müller will take care of Investor Relations and Administration within the Hugo Boss Group in his role of CFO. Throwing light on his term commencement, the company informed that it will be not later than January 1, 2018.

Reebok seeks approval to open single brand retail stores in India

The India wing of Reebok, a global athletic footwear and apparel company, has submitted its proposal to Department of Industrial Policy and Promotion( DIPP) seeking its approval to open single brand retail stores in the country.
The application is under consideration. Currently, Adidas AG sells Adidas and Reebok sports shoes and clothes in India.
According to the Foreign Direct Investment or FDI policy of the country, 100 per cent equity investment is allowed in single brand retail trading. FDI of up to 49 per cent is permitted under the automatic route but Government’ s nod is required beyond that limit.
It is pertinent to mention here that the Indian Government may further ease the rules to allow 100 per cent Foreign Direct Investment( FDI) through automatic route in single brand retail. The Government is considering this move to make India a more friendly place for global investors.
Foreign investment is allowed subject to certain conditions, which require products to be of a‘ single brand’ only and to be sold under the same brand globally.

Perry Ellis inks deal with Ripley Corp. to enter Chile

Beginning his professional career in 1994, Müller moved to Tchibo GmbH in 1999 where he held various positions in top management. In 2006, he was appointed to the Management Board of Tchibo GmbH, where he became Chief Financial Officer.
“ Yves Müller possesses a deep understanding of finance and will be bringing in many years of profound experience in the retail industry to Hugo Boss. We believe that this know-how makes him an outstanding fit for the company’ s Managing Board,” said Michel Perraudin, Supervisory Board Chairman, Hugo Boss.
A leading designer, distributor and licensor of high-end men’ s and women’ s apparel, accessories and fragrances – Perry Ellis International has signed a license agreement with Comercial ECCSA S. A./ Ripley Corp. in Chile to sell apparel, accessories and footwear under the Gotcha brand.
George Feldenkreis, Executive Chairman, Perry Ellis International, commented,“ Our Company is pleased to enter into a partnership with Ripley Department Store to maximize the potential of the Gotcha brand in Chile. We feel Ripley will be a terrific partner for Gotcha and this license will enhance our global reach across product categories and
geographies to drive further growth and profitability.”
A classic surfwear company that prides itself in the combining of freestyling, fashion and fun for the spirited Californian, Gotcha is famous for its apparel that grips onto action water-based
sports, surfing, skateboarding or snowboarding.
The complete lifestyle collection, which includes a surf range as well as men’ s and women’ s knits, wovens, T-shirts, bottoms and surf accessories will begin retailing from Fall 2017.
50 Apparel Online Bangladesh | JULY 2017 | www. apparelresources. com