MOSCOW, April 24. /TASS/. Stockmann company will buy the Russian unit of German fashion garments producer Hugo Boss, Russian Deputy Minister of Industry and Trade Viktor Evtukhov told TASS.

"The government subcommittee approved the transaction on the sale of the Russian unit of Hugo Boss to AO Stockmann, a department store chain with 25 locations across Russia and an Internet store," Evtukhov said.

Keeping all the jobs in Hugo Boss was among main conditions for the transaction approval, the official said. The deal is expected to be closed after completion of all the required legal and administrative procedures.

All the existing Hugo Boss stores will be reopened in July - August 2024, the deputy minister added.

Hugo Boss announced in March 2022 that it would close its stores and suspend online sales in Russia.