Home / Knowledge / News / Apparel/Garments / Hugo Boss betting on expansion to achieve €3bn sales
Hugo Boss betting on expansion to achieve €3bn sales
26
Nov '13
Hugo Boss AG, a luxury fashion and style house based in Metzingen, Germany, backed its goal of attaining planned sales of 3 billion euro in 2015 at an investor day in Hong Kong where the Managing Board of the company was reporting the medium-term progress.
 
Hugo Boss has been able to avoid the effects of global economic slowdown on its sales. It expanded its operations to major cities of the world while increasing its retail activity, which is expected to generate 60 per cent of sales in 2015.
 
The company also reasserted its goal of endlessly improving profitability, despite thinning of margins owing to the investments being made by the Group in the last two years.
 
Apart from consistently expanding its store network, Hugo Boss plans to step up investments in brand communication towards the end consumer to accelerate Group’s growth. However, the Company said that it would no longer be able to achieve a 25 per cent EBITDA margin in 2015, adding that the goal could be achieved only after 2015.
 
Meanwhile, the company sees potential in strategic growth areas in Asia, especially in China, which could account for more than 20 per cent of the global luxury market by 2015. The Group has already begun investing in the perception of its brand and the appeal of its market presence in the region.
 
Commenting on the Company’s growth forecast, Claus-Dietrich Lahrs, CEO of Hugo Boss AG said, “In the last few years we have strengthened HUGO BOSS as a global brand and geared it more directly to consumers. Today, customers experience our brand world as even more high value. It is therefore the right decision to invest in the strength of our brands and distribution, thereby creating very good long-term growth prospects for the company.”
 

Fibre2fashion News Desk - India


Must ReadView All

Global economic upswing became broader & stronger: IMF

Textiles | On 19th Apr 2018

Global economic upswing became broader & stronger: IMF

The global economic upswing that began around mid-2016 has become...

Courtesy: ITMA

Textiles | On 19th Apr 2018

ITMA 2019 expanding space due to overwhelming response

Due to overwhelming response, the exhibition space has been increased ...

BIDA’s Europe trip to showcase a different Bangladesh

Apparel/Garments | On 19th Apr 2018

BIDA’s Europe trip to showcase a different Bangladesh

The Bangladesh Investment Development Authority (BIDA) is taking a...

Interviews View All

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search