Statement summarizes material disclosures on sustainability aspects
Seven 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 the HUGO BOSS Group and HUGO BOSS AG. It substantively summarizes the material disclosures for the Company regarding the five required aspects of environmental, employee and social matters, respect for human rights and anti-corruption and bribery matters. In the drafting of the statement, HUGO BOSS oriented itself, particularly for the definition of the reported performance indicators, toward the Global Reporting Initiative (GRI) Standards.
As part of the reporting process, HUGO BOSS has analyzed whether risks exist that are associated with its own business activity, its business relationships, and its products or services, and that very likely have or could have serious adverse impacts on the aspects listed above. HUGO BOSS has no such risks to report.
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). Independent Auditor’s Limited Assurance Report
Description of the business model
HUGO BOSS is one of the leading companies in the premium segment of the global apparel market. The business model of HUGO BOSS is described in detail in the chapter on “Business Activities and Group Structure.” 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 above aspects. A review of the materiality analysis by HUGO BOSS in 2021 showed that the topics “Responsible use of Chemicals in Production” and “Occupational Health” are no longer to be regarded as material within the meaning of Section 289c (3) HGB and are therefore no longer part of the non-financial statement. In addition, and in line with the objectives of the new “CLAIM 5” growth strategy of HUGO BOSS, the topic “Customer Satisfaction” included in the prior year’s report will henceforth be integrated into the broader topic of “Brand Power”. Group Strategy