HUGO BOSS Will Fully Take Over Asian Market Operations

In the Korean market, HUGO BOSS formally acquired all 17 stores from partner TDCo Limited in March 1, 2015.

In addition, the group will work closely with partners to jointly manage 7 duty-free shops.

The acquisition reflects the rapid growth of South Korea's importance as a tourist destination and its leading position in the Asia Pacific region to lead the cultural and fashion trends.

In addition, the acquisition will further clarify the positioning of HUGO BOSS, consolidate its position in the men's wear field, and further explore the opportunities offered by the Korean women's clothing market.

In the Chinese market, the group will fully purchase all businesses.

Following the acquisition of a joint venture with Rainbow Group last year,

It is now in agreement with Wenzhou Noble, the last franchising partner in China, that the group will take over 21 BOSS stores in Wenzhou in April 1, 2015.

This initiative will help HUGO BOSS group implement a more precise positioning strategy and enhance it within the scope of the whole channel.

And upgrading the retail network.

After the completion of this work, HUGO BOSS will fully operate its own more than 130 stores in mainland China.

In the Middle East market, HUGO BOSS plans to set up its own distribution company in the United Arab Emirates in 2015.

The company's headquarters will be located in Dubai, and plans to take over the distribution business of the various markets in the region starting from 2016 January 1st.

Based on this, HUGO BOSS will terminate its existing sales cooperation with its agent, Lebanon, Beirut Fashion Trading Company SARL, in December 31, 2015.

In 2014

One of them relates to changes in the distribution structure of the Middle East.

The Group expects that in 2015, trade in Korea and China will contribute to 1% of the group's sales growth and will have a positive impact on the overall operating profit.

China and South Korea agreed in the trading contract that they would keep the purchase price secret.

"Taking these commercial actions announced is aimed at better implementing the global development strategy of the group, that is, achieving comprehensive brand management and self managing retail business." HUGO BOSS CEO Klaus Dietrich Lars (Claus-Dietrich Lahrs) shows that "we can further consolidate our position in these important growth markets by fully taking over our business in Korea, China and the Middle East market."