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Hugo Boss is not interested in retail business
08 Apr '06
1 min read
Hugo Boss, the leading luxury fashion group of Germany, is not going to enter Indian retail industry in spite of Indian government's approval for Foreign Direct Investment (FDI) in single-brand retailing up to 51 percent.
The group has already a presence in India.
Hugo Boss-official said that the company has been dealing into wholesale business and has launched retail outlets only in select regions across the world.
As company is earning fat revenue from franchise mode, it wants to focus on Indian markets through franchises and not to capture retail market at present.
Tanveer Ahmed, Vice President (Finance) of Bin Hendi, the only franchisee of Hugo Boss in India, said that the company has plans to open Hugo Boss stores in Chennai, Hyderabad and Kolkata in coming days.
However, Bin Hendi is specific about the location of these stores and looking for proper place for stores in the three cities, he added.
The group has already a presence in India.
Hugo Boss-official said that the company has been dealing into wholesale business and has launched retail outlets only in select regions across the world.
As company is earning fat revenue from franchise mode, it wants to focus on Indian markets through franchises and not to capture retail market at present.
Tanveer Ahmed, Vice President (Finance) of Bin Hendi, the only franchisee of Hugo Boss in India, said that the company has plans to open Hugo Boss stores in Chennai, Hyderabad and Kolkata in coming days.
However, Bin Hendi is specific about the location of these stores and looking for proper place for stores in the three cities, he added.
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Kimberly Morgan and Rik Veltman
K3 Business Technology Group PLC
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