Hugo Boss, the luxury fashion brand released “unexpected and disappointing" first quarter figures for 2015.
The company had to cut its sales targets as Russian and Chinese shoppers lost interest. Figures show that sales in China decreased by 3%, whilst menswear figures fell a massive 10% last year. Figures also revealed that net profit fell by 7% to EU75.5 million, however on the plus side sales rose by 9% to EU668 million.
Hugo Boss’s chief executive, Claus-Dietrich is putting the fall down to the luxury market suffering. However, he is not letting this put him off as Hugo Boss is looking to open 50 new stores and hoping to increase figures with the help of celebrities such as Gerard Butler, Jamie King and Ryan Reynolds pushing its collection in 2015.
