Permira confirms no intention to sell Hugo Boss stake

Private equity firm Permira has no current plans to sell its stake in German premium fashion brand Hugo Boss, a spokesman said on Monday.

Permira, which owns the Hugo Boss stake via its Red & Black investment vehicle, last sold off shares in May 2014, May 2013 and November 2011, when it reduced its stake by 5.6 percent, 10 percent and 6.4 percent respectively.

Hugo Boss shares fell sharply early on Monday after Bloomberg reported that Permira was seeking a buyer for its remaining majority stake in Hugo Boss for 5,5 billion euros.

Hugo by Hugo Boss, Fall Winter 2014-15