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Script from the year 2012 in the subject Business economics - Offline Marketing and Online Marketing, grade: 1,0, École des hautes études commerciales de Paris, language: English, abstract: The teaching note presents a case study. The case¿s protagonist is Hugo Boss CEO Claus-Dietrich Lahrs, facing an important Board meeting on the following morning. Hugo Boss is owned by the Private Equity fund Permira which has decided to exit its investment through a secondary buyout. Lahrs has to present the top management¿s position on this strategic issue view including the other stakeholders¿ opinions. This case allows students to dig into corporate governance frameworks, fashion/luxury business models and into exit strategies for Private Equity funds.