Statement summarizes material disclosures on non-financial aspects
Eight topics identified as material within the meaning of Section 289c (3) of the German Commercial Code (HGB)
Definition of reported performance indicators is oriented toward GRI Standards
About this combined non-financial statement
Under Sections 315b and 315c HGB [“Handelsgesetzbuch”: German Commercial Code] in conjunction with Sections 289b to 289e HGB, the Company hereby publishes this combined non-financial statement for HUGO BOSS AG and the HUGO BOSS Group. It substantively summarizes the material disclosures for our Company regarding the five required aspects of environmental matters, employee matters, social matters, respect for human rights, and anti-corruption and bribery matters. In preparation of the statement, HUGO BOSS oriented itself toward the Global Reporting Initiative (GRI) Standards, particularly for the definition of the reported performance indicators.
As part of the reporting process, HUGO BOSS has analyzed whether risks exist that are associated with its own business activity, its business relationships, as well as its products or services, and that very likely have or could have serious adverse impacts on the aspects listed above. HUGO BOSS has not identified such risks.
Unless otherwise noted, the disclosures made in this statement reflect equally the perspective of HUGO BOSS AG and that of the Group. Any references to information outside the combined non-financial statement – with the exception of references to the chapter “Business Activities and Group Structure” as part of the combined management report – are information going beyond the mandatory disclosures under the German Commercial Code and do not form part of the statement. The combined non-financial statement was subject to a voluntary review with limited assurance according to ISAE 3000 (Revised). Limited Assurance Report of the Independent Practitioner Regarding the Combined Non-financial Statement
Description of the business model
HUGO BOSS is one of the leading fashion and lifestyle companies in the premium segment of the global apparel market. Our business model is described in detail in the chapter “Business Activities and Group Structure” of this Annual Report. Business Activities and Group Structure
Derivation of material topics
The basis used for selecting the topics presented in this statement is a materiality analysis conducted by HUGO BOSS in 2019, which encompassed, in particular, a materiality review according to Section 289c (3) HGB. It has been analyzed to what extent the topics are of particular relevance for understanding the Company’s development, performance, and position, and the impact of its activity on the five required aspects. A review and partial update of the materiality analysis initiated by HUGO BOSS in 2022 showed that, due to its increased strategic relevance for the Company, the aspect of “Circularity” is also to be regarded as material within the meaning of Section 289c (3) HGB and is therefore to be included in the non-financial statement from now on. Group Strategy
Organizational structure and responsibilities
At HUGO BOSS, sustainability is firmly anchored in its “CLAIM 5” strategy. The overall responsibility for the sustainable development of the Group lies with the Managing Board. Strategic responsibility is assigned to the Group Strategy and Corporate Development division, which reports directly to the Chief Executive Officer (CEO). Operational responsibility along the supply chain lies with Business Operations, while Investor Relations is responsible for sustainability reporting. Both departments report to the Chief Financial Officer (CFO)/Chief Operations Officer (COO). He is also responsible for the central Sustainability Committee, which is made up of representatives of the main business areas involved in sustainability topics and which drives relevant decision-making processes in the area of sustainability. Managing Board