After Barcelona and Valencia, both opened 2011, Chopard expanded in Spain with its third ...
read more
American hotel chain, Thompson Hotels, known for its contemporary luxury hotels in the US, ...
read more
Despite the negative impact of a strong Franc, Swiss watch exports reached a record 16 billion ...
read more
Talking to The Economic Times, Mr PRS Oberoi confirmed his company tapped renowned American ...
read more
World's leading luxury group, LVMH announced record results for 2011, with salea reaching ...
read more
Italian luxury house of Loro Piana, known for its iconic cashmere ready to wear and accessories ...
read more
Escada and Hugo Boss heading towards bankruptcy
News 27 March 2009
Drops in global sales of more than 28 percent were recorder over at Hugo Boss, a sign that panic should strike both the german company and also the owners, Valentino Fashion Group.
The Group has recorderd losses also on the Valentino brand, despite efforts to restructure the company once designer and founder Valentino Garavani retired. The Escada Group finds itself in the same difficult situation; company officials publically announced that restructuring and possible bankrupcy procedures might be initiated.
In Eastern Europe, the best performing markets of Hugo Boss have been, until recently, Bulgaria, Ungaria, the Czech Republic and Poland, while Escada has recorded losses good results in Hungary, Bulgaria and the Czech Republic. In Romania, both brands had inadequate management, with both stores closing down in 2008.
The Group has recorderd losses also on the Valentino brand, despite efforts to restructure the company once designer and founder Valentino Garavani retired. The Escada Group finds itself in the same difficult situation; company officials publically announced that restructuring and possible bankrupcy procedures might be initiated.
In Eastern Europe, the best performing markets of Hugo Boss have been, until recently, Bulgaria, Ungaria, the Czech Republic and Poland, while Escada has recorded losses good results in Hungary, Bulgaria and the Czech Republic. In Romania, both brands had inadequate management, with both stores closing down in 2008.