Hugo Boss warns of slower sales rise
By Emily Ford |
00:18 UTC+8 March 15, 2012
|
Print Edition
Print Edition
FASHION house Hugo Boss yesterday said it had a record year in 2011, with sales jumping 18 percent to 499 million euros (US$653 million), but warned that growth would slow this year.
Sales of the brand, famous for its perfume and sharp-fitting men's suits, rose 57 percent annually on Chinese mainland, the German fashion label said. It plans to open new flagship stores in Shanghai and Beijing this year, two of around 20 new outlets on the mainland.
However, it said that sales would rise by just a tenth this year, about half the heady growth rate seen in 2011.
"Last year's success is evidence of the attractiveness and the efficiency of our business model," Claus-Dietrich Lahrs, Hugo Boss CEO, said. "I am confident that we can grow strongly in 2012, too."
Some commentators suggest it may be difficult for luxury brands such as Burberry and Gucci to match the astonishing Asia-driven growth of the past two years.
Sales of the brand, famous for its perfume and sharp-fitting men's suits, rose 57 percent annually on Chinese mainland, the German fashion label said. It plans to open new flagship stores in Shanghai and Beijing this year, two of around 20 new outlets on the mainland.
However, it said that sales would rise by just a tenth this year, about half the heady growth rate seen in 2011.
"Last year's success is evidence of the attractiveness and the efficiency of our business model," Claus-Dietrich Lahrs, Hugo Boss CEO, said. "I am confident that we can grow strongly in 2012, too."
Some commentators suggest it may be difficult for luxury brands such as Burberry and Gucci to match the astonishing Asia-driven growth of the past two years.
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