Hugo Boss Taking Over More Asia Stores

Hugo Boss Chief Executive Officer Claus-Dietrich Lahrs
Hugo Boss Chief Executive Officer Claus-Dietrich Lahrs

German luxury fashion and style house Hugo Boss said it will take over all its stores in China and operate a total of 130 outlets in the country.

The move is part of the company’s efforts to capitalize on the rising luxury clothes and accessories demand in Asia and the Middle East.

It also plans to set up its own distribution company in Dubai and take over 17 franchise stores in South Korea.

Hugo Boss is shifting to markets outside of Europe as European consumers cut high-end purchases. Sales in Germany, its home base, dropped 8% in Q4 of 2014.

“We will again be able to master the macroeconomic challenges this year,” Chief Executive Officer Claus-Dietrich Lahrs said in the statement. “Looking ahead over the next few years, Hugo Boss faces excellent prospects for growth.”

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