The German luxury group Hugo Boss has signed an agreement with HeiQ AeonicQ, a subsidiary of the Swiss company HeiQ, with the aim of promoting sustainability in the fashion industry. The agreement will see Hugo Boss inject five million dollars into HeiQ AeonicQ and will complete the investment with up to a further four million dollars, depending on the achievement of targets. HeiQ AeonicQ specialises in the production of sustainable cellulosic yarn with patented technology made from recycled polyester and nylon fibres. The agreement involves the implementation of this yarn in the Hugo Boss brand collections. Hugo Boss' investment in HeiQ AeonicQ is the group's first as part of its Claim 5 strategy. The plan is based on five key pillars: boosting the relevance of the group's two brands, focusing growth on product, enhancing the company's digital environment, renewing its retail network on an omni-channel basis and driving growth in all its markets. CEO Daniel Grieder says that the move is intended to drive innovation and sustainability in the brand’s garments, creating a measurable impact for the environment and society alike.
Partnership with HeiQ In addition to using down that is certified by Responsible Down Standard Hugo Boss is going to increase sustainable materials used across its two brands through partnership with HeiQ. The partnership also contributes to achieving the company's goal of achieving climate neutrality by 2030. Furthermore, it will also help the company make further progress towards establishing an end-to-end circular business model. Within eight years, Hugo Boss plans to make eight out of ten of its products circular. According to Grieder, the brand needs to rethink the way it sources materials, because if it continue on the current path, by 2050 there will be more microplastics in the oceans than fish. Hugo Boss is striving to be at the forefront of driving positive change in the fashion industry and are committed to contributing to a greener planet. In 2021, the German fashion group closed its financial year, which ended in December, with sales up 43% to €2.786 billion. Compared to 2019, its turnover recorded a fall of 3.39%. HeiQ specialises in the manufacture of artificial cellulosic fibres and its main objective is their implementation in the production of fabrics, through the development of yarns that can be used in the construction of fabrics. Within this framework, HeiQ AeoniQ plans to build its first commercial factory in central Europe by 2024 and is currently building a pilot plant for fibre production, which it expects to be operational later this year.