HUGO BOSS steps up international expansion motivated by outstanding results in 2010
German premium brand HUGO BOSS, which is owned by British investment fund Permira, also owners of Valentino Fashion Gorup has announced an 82% increase in its turnover for 2010, compared to 2009. The strategy following the very troubled 2009, concentrated on product diversification, proximity to clients and development of directly operated retail to better control brand image. The company operated directly 550 stores and over 1000 franchised stores with local or regional partners. Hugo Boss’s best performing territories in 2010 have been the US and China. Particular improvements have been made on wholesale, improving efficiency and logistics.
Hugo Boss’s diversification with several more moderately priced lines such as Orange and Green has firmly positioned the brand in the past two years among the line of ”democratic luxury”, along with Burberry and Lacoste.