Mark Langer Sets Forth The Strategic Plan And Plan For The Future Of Hugo Boss Brand.

Recently,

The new chief executive, Mark Langer, formally elaborated on the foreign investor's day in London.

Future strategic deployment and plan.

He reconfirmed that Hugo Boss would give up.

The news of the market will completely negate the past CEO Claus-Dietrich Lahrs's strategy of entering the luxury market.

Mark Langer emphasizes that it is not reliable to make the brand into the luxury industry by raising the price. In the final analysis, Hugo Boss is still a high-end lifestyle brand.

Mark Langer was promoted to Chief Executive of the group in May this year and has remained relatively low-key.

Mark Langer said that the company plans to restore its growth by 2018 by streamlining its brand and focusing on developing fashion conscious young customers.

Hugo Boss's former chief executive, Claus-Dietrich Lahrs, left the market in February after a serious slowdown in demand for luxury goods. In September, she was appointed the head of Bottega Veneta, a luxury brand of Kai Yun group.

During the period of Claus Dietrich Lahrs, even during the global financial crisis, the luxury industry continued to expand the market, opened more than 400 stores around the world and invested a lot of financial resources in the women's clothing series, trying to reaffirm its high-end brand positioning through global expansion.

It is reported that the current Boss Orange and Boss Green two sub line brands will be integrated into the Boss series, Mark Langer tells investors that the company will only retain two brands, one is a higher price Boss, the other is a cost-effective, suitable for young consumers Hugo, pricing will be lower than Boss series low 1/3, the goal is to omni-directional coverage of the consumer market.

Mark Langer has denied rumors about rumors that the women's clothing series will be closed or closed.

He promised that the women's wear series will continue to exist as an important part of the group, and will continue to work with designer Jason Wu. However, Hugo Boss will replace the women's wear series with men's wear next year in New York fashion week.

As for how the group will respond to a series of benefits brought about by exchange rate changes, Mark Langer points out that Boss will try to keep prices of products in different regions consistent by adjusting prices.

According to the current exchange rate changes, the group will lower Asian prices and raise European prices, while North American prices will remain the same for the time being.

This year's global geopolitical and economic instability and exchange rate volatility are the main reasons for the sluggish performance of the group. Boss sales in the US and China have dropped sharply.

According to fashion headline data, Hugo Boss declined third to 80 million 600 thousand euros in the first quarter of this year, and sales fell 6% to 703 million euros over the same period last year.

Mark Langer believes that 2017 will gradually stabilize. It is estimated that sales of currency adjustment will drop by 3% this year. The wholesale and distribution channels of the United States will be further stabilized. It is expected to close some 20 bad stores around the world.

The company reiterated that it would slow down the pace of market development in the future, focus on developing online businesses, and plan to increase its productivity by 20% in the next few years.

Most of the changes outlined above will come into effect in 2018, and the Group expects growth to resume at that time.

After Mark Langer released its detailed strategy, shares of Hugo Boss group fell 11.24% yesterday, since the group's share price has fallen 35% this year, and its market capitalization is about 3 billion 766 million euros.