INSUBCONTINENT EXCLUSIVE:
German fashion house Hugo Boss has closed a deal to sell its Russian division to the retailer Stockmann, coming more than two years after it
suspended operations in the country over the full-scale invasion of Ukraine.In April, Hugo Boss agreed to sell its Russian business to its
Germany.Potential sell-off deals also need approval from the Russian government, whichdemanded that Hugo Boss retain jobs after the
2 and now owns 100% of its nominal value of 40 million rubles ($470,588), according to Reuters.Hugo Boss stores are expected toreopen
sometime in the third quarter of 2024, according to the state-run Interfax news agency.
