Hugo Boss Core Competitors
The type of business HUGO BOSS is and its core competitors.
Hugo Boss AG is a luxury fashion brand company based in Germany. They develop, market and sell high-end fashion apparel, shoes and accessories in their own retail stores across the world and, to some extent, sell their products wholesale to partner department stores. The Hugo Boss company is a leader in the luxury and premium fashion segment of the apparel industry. They focus on developing and marketing high-end men’s and women’s apparel, shoes and accessories. The Hugo Boss brand structure consists of modifications of the brand, each dedicated to different target groups. This leads the Hugo Boss brand to be targeted to different groups.
The core competitors of Hugo Boss are other premium and luxury fashion brands such as Gucci, Ralph Lauren, Michael Kors and Armani.
Historically performance of HUGO BOSS
Since the year 2009, Hugo Boss has had strong growth due to the rise in demand in China and other countries. Despite growth in the past couple of years, the growth rate of Hugo Boss in 2014 is to be less than expected. This is due to a “slowdown” in growth in the luxury fashion industry in Europe and the global economic environment. (ft.com 2014 retrieved from site: http://www.ft.com/cms/s/0/036a07ee-640c-11e4-bac800144feabdc0.html#axzz3Pibcs07M).
For the year 2013, the overall Hugo Boss AG group sales growth was six percent. Hugo Boss AG had seven percent sales growth in the European region, six percent sales
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