German fashion giant Hugo Boss AG, has established a philanthropic organization with an emphasis on environmental preservation. On January 1, 2023, the Hugo Boss Stiftung gGmbH will start operating as a full subsidiary of the Hugo Boss AG.
The foundation is designed to give the business the ability to focus on climate and environmental protection while expanding its current charity commitment in the areas of education, equal opportunity, and emergency relief to new partners.
The new foundation will aid local, regional, and international initiatives, such as those aimed at preventing floods, advancing climate change education, and combating plastic pollution. The Sustainable Development Goals (SDGs) of the UN serve as a roadmap for the business.
Daniel Grieder, CEO of Hugo Boss AG, said that a fundamental component of their corporate culture is corporate citizenship. They can advance their efforts thanks to the new Hugo Boss foundation. Being courageous for the world is a worthwhile and thrilling goal. In order to do this, they want to promote programs that bring about change all across the world.
The organization's new "Every Purchase Counts" campaign, which also goes into effect on January 1, 2023, will serve as the foundation's primary source of funding. With effect from this day forward, Hugo Boss will donate 5 cents for every own product (except from licensed products) sold offline and online globally.
According to the company, "[this means] that every Boss and Hugo customer will have a part in supporting the activities of the foundation." Potential contributions from partners as well as voluntarily made staff donations will provide further funding.
A new sustainability management structure that better supports the execution of the Claim 5 strategy was recently introduced by the Group. As a result, Dorothee Niebergall, senior vice president group strategy & corporate development, Ivica Maric, senior vice president business operations, and Christian Stöhr, vice president investor relations are now in charge of strategic responsibility, operational responsibility along the supply chain, and sustainability reporting, respectively.
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