Hugo Boss CEO Goes Out Of Business And Closes 20 Shops.

Some time ago, when we talked about the winter of luxury in 2015, many brands sold out with a dismal result, despite the fact that many retail giants recorded low single digit growth.

For example, Hugo Boss, because of the publication of the earnings report, led to CEO's first request for leaving.

But this is still not the end.

Greater China

Falling to freezing point is weaker than the global sales network. Therefore, Hugo Boss, which is suspected of over expansion in Greater China, is once again a member of luxury stores.

A few days ago, Hugo Boss announced that it would make adjustments to its business strategy, reduce the opening speed of new stores, and expand online sales to open up its current difficulties.

Is it possible to rectify the number of stores?

To bring a new lease of life? Besides opening up digital channels, we should pay more attention to the design of the brand itself.

And the brand's attempt to drive growth by reducing price strategy, and whether it can achieve the desired state?

Brand aspect

After that, it announced that 20 stores were expected to be closed in the 145 stores in Greater China, and there will be a large-scale redecorating strategy for the remaining stores, and more stores will be closed after the global retail network is reassessed.

At the same time, the brand announced that the number of new stores in the world will be reduced to less than 20 in 2016 compared with 72 in 2015.