Hugo Boss sees huge growth potential in Asia

Source: https://apparelresources.com

Hugo Boss – the German fashion retail giant – said that while the company is happy with its overall growth in Asia, there is still a huge potential to grow in the region.

Asia currently accounts for 15 per cent of the retailer’s worldwide sales. While speaking to the investors in London, the management said that it expects the figures to increase to 20 per cent by the year 2022.

In its statement, the retailer said that China could play a big role in increasing its percentage rate in Asia.

Besides expanding its wide network of local retail outlets, Hugo Boss feels that the online business along with many other multi-brand platforms will also further enhance its growing sales.

Till 2022, the fashion retailer aims to focus more on speed and personalisation so as to promote brand desirability.

The luxury fashion house also added that if the currency-adjusted sales are enhanced between 5 and 7 per cent, then its operating margin may increase by 15 per cent.

The CEO of Hugo Boss, Mark Langer, said that the company expects its operating profit to grow faster than its sales.

He also said that a more personalised approach towards shoppers and products will give the shoppers a different kind of shopping experience.



Categories: Apparel, Asia, Brands, Business, Retail, United Kingdom

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