JSC Stockmann closes deal to buy Hugo Boss Russian business

MOSCOW. Aug 5 (Interfax) - JSC Stockmann has closed its deal to buy German fashion company Hugo Boss's business in Russia.

Hugo Boss Russia LLC's business changed hands on August 2, according to the Unified State Register of Legal Entities.

Hugo Boss suspended online sales and the operations of its stores in Russia in March 2022.

Viktor Yevtukhov, then Russia's Deputy Industry and Trade Minister, told Interfax in the spring that government subcommission for foreign investment had approved the sale of German fashion company Hugo Boss's Russian business to JSC Stockmann.

Reports have said retailer's stores in Russia would reopen once the deal is completed in Q3.