Team size: 42

What are the most significant cases or transactions that your legal team has recently been involved in?

One significant transaction was the re-financing of HUGO BOSS. The old revolving credit facility (RCF) was about to expire, so we had to secure new financing. With the transaction, we wanted to achieve different goals simultaneously. Apart from securing funding for our growth strategy, we also wanted to be able to finance future M&A transactions through the RCF, which is why – to my knowledge, for the first time – we included a comprehensive M&A toolbox formerly only known for specific M&A financing into the RCF. Also, in anticipation of our recently received rating, we agreed on a rating grid to supersede the leverage grid for interest. And finally, for the first time in company history, we linked the interest rate to the achievement of certain ESG KPIs.
HUGO BOSS has already in the past worked with franchise partners. However, as we advance, we will not only work with franchise partners in countries where we do not have our retail operations but also in those where we are present with retail stores. This required having a new look at our franchise structure and agreement. My team and I were instrumental in completely re-vamp our franchise relationships and professionalising them. This required new agreements and an evolvement of all processes, like training, auditing and data sharing, where legal has been instrumental to achieving business goals.
HUGO BOSS acquired a minority stake in a company called HighQ Aenoiq, which produces a Garn from cellulose which resembles the characteristics of polyester and thus has the potential to change the fashion industry dramatically into a more sustainable one. Polyester is one of the biggest single threats to the fashion industry for our environment. in partnership with HighQ AeoniQ; we have the chance to change this completely. Legal was instrumental in setting up and shaping the partnership.

How do you feel the pandemic has changed the world of work for in-house counsel and the function of the general counsel?

The pandemic has increased the need to be agile and flexible and able to adjust to new situations. Through the pandemic, we underwent different stages, from the nearly complete closure of our stores and loss of almost all income, where it was paramount to safeguard liquidity, to the exploration of new business models where we had to give advice quickly and pragmatically to be able to start any such new revenue streams. Finally, we had to support the restart of business with a new growth strategy, bringing new challenges on the supply, logistics, and sales side, with new channels and countries. Also, the pandemic shifted even more work digitally, so the workplace is not decisive anymore (although it is nice to meet people in person). Due to the growing uncertainties, it became even more important for the legal function and as a general counsel to assess and balance risks. Also, you must think and work in alternative scenarios more than in the past due to uncertainties.

How much influence do you, as a general counsel, have on the diversity and inclusion policies of your organisation?

While we do not have a formal mandate, which at HUGO BOSS is with our diversity and inclusion team and our global head of diversity and inclusion, I understand my role as an ally for diversity and inclusion initiatives and policies. I am acting as a bridge between our diversity and inclusion team and our supervisory board, where I place their agenda and findings and use my influence as a trusted member of the senior management to push further the agenda laid out by our diversity and inclusion team.