HUGO BOSS considers a responsible approach to risks to be an essential component of good corporate governance. The risk management system anchored in the value-based Group management is intended to enable the Company to identify and to assess risks at an early stage and to control risk positions through appropriate measures. Ensuring appropriate and effective risk management and risk controlling is of particular importance. The systems are continuously enhanced and adapted to changing conditions. Inherently, however, these cannot provide full protection against losses from business transactions or fraud.
Details on this topic may be found in the Risk Report of our Annual Report 2021.