GTSF Hugo Boss

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 This project is proposed under the Global Trade Supplier Finance program (“GTSF” or the “Program”) approved by the IFC Board on September 21, 2010 (Original Project #28723) and an additional increase approved on December 15, 2022. Under GTSF, IFC provides short-term financing to suppliers (“Suppliers”) in emerging markets selling to large companies (“Buyers”) on open account terms. Under this project, IFC will provide financing to Hugo Boss (“HB” or the “Company”) suppliers based in different emerging market countries. The proposed project (‘the project”) within the GTSF facility is expected to be US$50 million. Hugo Boss is a German apparel manufacturer and retailer with an operating history of 99 years. The Company is listed on the Frankfurt Stock Exchange and its ADRs trade on NASDAQ. Hugo Boss operates a network of approximately 7,400 stores in 132 countries. Hugo Boss employs nearly 17,000 staff. Most of Hugo Boss’s sourcing and production is from emerging markets in Asia, (51%), and EMEA, (46%), the balance, (3%), is sourced from Americas. No individual supplier is responsible for over 5% of total purchases. Under the project, IFC will provide short-term financing through the GTSF program to Hugo Boss suppliers in Vietnam, Bangladesh, China and other emerging market countries, on a discounted basis. At invoice maturity, IFC would receive payment of the full invoice value from Hugo Boss.