HUGO BOSS considers a responsible approach to risks to be a key component of good corporate governance. The risk management system, anchored in the value-based Group management, permits the Company to identify and assess risks at an early stage and to optimize risk positions using appropriate measures. Ensuring reasonable and effective risk management and risk controlling is of particular importance in this context. The systems in place are continually enhanced and adapted to changing circumstances. Inherently, however, they cannot provide complete protection from losses resulting from business transactions or fraud.
Details on this topic may be found in the Risk Report of our Annual Report 2020.