Hugo Boss is one of those names that immediately conjures up an image of effortless, contemporary style. Bernd Hake, Managing Director of Hugo Boss UK, talks to RLI about the groups plans for sustained growth and the importance of continual self-improvement.
A market leader in the premium fashion and luxury segment of the apparel market, Hugo Boss has five brands: Boss Black, Boss Selection, Boss Orange, Boss Green and Hugo, which today appear more individualised and clearly defined than ever before – the stronger the differentiation, the more the brand may tap the available growth potential by adapting to
the specific country, distribution channel and consumer orientation.
Boss Selection has been given a new and authentic luxury identity to offer customers a distinctive and, above all, credible luxury fashion statement, while Boss Black remains the company’s core brand; modern, sophisticated, premium – it stands for contemporary elegance.
Boss Orange is its casualwear brand in the premium segment and Boss Green has been extremely successful, offering sports and casualwear for men and, with the launch of Boss Green Womenswear in 2010, women.
Hugo is the home of avant-garde design. Its men’s and women’s collections feature clean lines and innovative looks; shoes and accessories complete the outfits, and eyewear and fragrances add the finishing touches.
“We aim to be the most desirable premium apparel company,” says Bernd Hake, Managing Director of Hugo Boss UK.
Indeed, the company is well positioned to take advantage of market dynamics by leveraging scale across its brand portfolio. Its strategic priorities are to strengthen brand desirability, shift company culture and processes from a reactive wholesale model to a dynamic retail model to further gain consumer proximity and to optimise and implement its integrated distribution roadmap, increasing brand presence and market share. Within this context it is also important to utilise its talent management program and reward performance and to achieve ambitious financial targets.
“Our vision is to become a world-class retailer, delivering healthy, sustainable growth with an outstanding return on investment,” says Hake.
For the last few years, Hugo Boss UK has evolved into a significant retailer, operating 30 directly-operated stores, its online store, four airport stores, four concessions and four factory outlets.
“The past two years have been very good for us. Last year we grew around 20 per cent and this year we’ve grown around 30 per cent, so basically over the last two years we’ve grown at a rate of around 50 per cent,” explains CEO
The increased internationalisation of its business model and the strategic expansion of Hugo Boss’ own retail activities are the key elements of the Group’s growth strategy. In 2011, Hugo Boss distributed its products to more than 6,300 point-of-sale locations in 124 countries, increasing the directly-operated stores by a further 85 for a current total of 622 stores and shops (including concessions and outlets) across all continents and all major markets.
For the full article, please see the May 2012 issue.