MYER is reportedly set to lose millions in annual sales after fashion label Hugo Boss ditched the department store in favour of rival David Jones.
The German company announced on Wednesday that Hugo Boss products would be sold in every David Jones store from February next year, Fairfax Media reported.
Hugo Boss Australia and New Zealand managing director Matthew Keighran said that based on trading performance to date "we believe that our product and target demographic are best aligned to the David Jones brand portfolio and customer base".
Fairfax says insiders have estimated that the loss will cost Myer $7 million in annual sales, but chief executive Bernie Brookes denies that the loss of the luxury brand will have a great impact.
"It was less than .01 per cent of our sales, so only a small brand in many senses, but it is a good brand so it's sad that we're losing it."
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