The fashion group Hugo Boss is to implement as much as the ex-company of its new boss in a few years. "I see no reason why Boss should be smaller than Tommy Hilfiger"said Daniel Grieder of "Süddeutsche Zeitung"
(Tuesday edition). "We recently had sales there of more than five billion euros a year, at Hugo Boss it’s about half." The manager named 2025 as the target for doubling sales. "We will grow strongly in all areas and in all regions."
Grieder contradicted speculation that he should rehabilitate Hugo Boss for a sale."It’s not my job to make the brand pretty for a sale. We don’t want to sell, we want to buy"he stressed, adding: "We want to create a platform that could also be open to other brands – modeled on the French luxury group LVMH, which has so many brands under its roof."
The Boss brand has recently lost a lot of relevance, but it has potential and needs to be renewed, says Grieder. He settled accounts with the strategy of his predecessors. "Boss suddenly wanted to enter new spheres, in the absolute luxury market." More and more shops have been opened, wholesale has been neglected, and the Boss Orange and Boss Green brands have been discontinued. "This may have been good for the capital market and the share price in the short term, but it wasn’t good for the brand", he summed up. The competition was left more or less without a fight. That should be changed now. (dpa)
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