Permira Advisers, owner of half of Hugo Boss's investment shares, is seeking a potential buyer for its remaining stake in the German fashion house.
Permira's holdings in the company are estimated to be worth around $5 billion, people familiar with the matter told Bloomberg.
Under CEO Claus-Dietrich Lahrs, Hugo Boss shares have soared in the past five years. In just the last 12 months, shares have risen 19 percent. Permira has already cut its stake in Hugo Boss by two shares in the past 18 months. The company hopes to unload the remaining shares in a single transaction.
Analysts are making predictions as to which retailer or private equity firm might sweep up the Hugo Boss brand. Names such as Polo Ralph Lauren (NYSE:RL) or PVH (NYSE:PVH), owner of Calvin Klein and Tommy Hilfiger, have been tossed around as potential takers.
Permira has approached Roberto Cavalli about a possible stake in the fashion brand.
Burberry sales were up 12 percent in the first quarter of 2014, and Michael Kors (NYSE:KORS) is on track to open 45 new stores in the United States in 2015, proving that luxury brands are alive and well.
-See this Bloomberg article
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