Hugo Boss has appointed Frasers Group’s Chief Brand Partnerships Officer David Epstein as its next Chief Executive, succeeding Daniel Grieder following the UK retail group’s takeover of the German luxury brand in October.
The fashion brand said Grieder will leave at his own request on 31 December 2026, with Epstein taking over on 1 January 2027.
Grieder's exit follows a number of senior leaders at Hugo Boss stepping down from their roles since Frasers reached a50.08% stake in the company on 23 October, thereby becoming a majority shareholder and effectively taking over the company.
Also this week, Hugo Boss' Chief Sales Officer and Deputy Chief Executive Oliver Timm announced his exit, with no replacement yet named, while Chief Financial Officer and Chief Operating OfficerYves Müller left his roles in September, citing personal reasons.
Hugo Boss is now set to become a Frasers subsidiary, and the company's earnings, assets and liabilities are expected to be included in Frasers' accounts, according to a statement to shareholders published by the retail group.
Notably, despite previous reports that Frasers was looking to install its CEO Michael Murray in the same position at the German company, Murray was instead appointed as Chairman of Hugo Boss’s Supervisory Board on 16 September, succeeding Stephan Sturm.
Under German law, the Managing Board runs the business day-to-day and reports to the Supervisory Board. Frasers flagged this in its takeover announcement, noting that: "Frasers' ability to influence Hugo Boss' day-to-day business activities may be limited."
Yet with Michael Murray as Chairman of the Supervisory Board and a former Frasers executive as CEO of Hugo Boss, the retail group is asserting a lot more control over the company.
Hugo Boss' new CEO, Epstein, has served in his current role at Frasers since 2024, overseeing partnerships across Frasers’ sport, premium and luxury businesses. He looks back on more than ten years with the group, including five years as Managing Director of its Premium and Luxury divisions.
Murray said: “David Epstein combines a deep understanding of global brands with extensive experience in premium and luxury retail. He knows what it takes to build strong brands, elevate the consumer experience, and drive a business forward. I am convinced that he will bring valuable new perspectives to Hugo Boss while building on the company’s strong foundation.”
Grieder took office in June 2021 and led the company’s transformation under its CLAIM 5 strategy.
Grieder said: “Looking back, what makes me proudest is what our teams accomplished over the past years. Together, we have brought Boss and Hugo back on stage, built a 24/7 lifestyle product offering, redesigned our stores worldwide, and renewed our culture and the way we work.
"With this strong foundation in place, I am convinced that now is the right time for me to step down and hand over to the next generation of leadership. It has been an honour to lead Hugo Boss, and I will always feel connected to its people and brands.”
Murray added: “On behalf of the Supervisory Board, I would like to sincerely thank Daniel for his dedication and his contribution to Hugo Boss. Under his leadership, the company sharpened its positioning and renewed the way the brands connect with customers around the world. We respect his decision to step down.”
The retail group took control at a weaker point in Hugo Boss' trading. Currency-adjusted sales fell 9% in the second quarterand 8% in the first half, and second-quarter EBIT was €59 million.
The deal follows Frasers' acquisition of Harvey Nichols in August and the launch earlier this month of Frasers Group Luxury. That strategy brings Flannels, Harvey Nichols and The Webster together with the group's brand investments, including Hugo Boss.