Hugo Boss invests $5M in HeiQ AeoniQ

In Switzerland, Hugo Boss became a front-runner in the race to adopt HeiQ AeoniQ yarns by putting a $5 million equity investment in HeiQ AeoniQ LLC and additional contingent $4 million based on performance milestone arrangements. The Lycra Company has also become the exclusive distributor for HeiQ AeoniQ yarn by making a significant, undisclosed investment and by committing to develop the technology for broad application in textiles.

The strategic partnership will help Hugo Boss meet its ambitious sustainability targets which include the aim for climate neutrality within its own area of responsibility by 2030, and throughout the entire value chain by 2045. In addition, the company puts particular emphasis on establishing an end-to-end circular business model. The investment therefore perfectly fits in with Hugo Boss’ goal to strongly increase the proportion of more sustainable materials over the coming years. Over the mid to long term, Hugo Boss is focused on the potential to materially complement and substitute the currently used polyester and nylon fibers with the cellulosic HeiQ AeoniQ fibers.