No More Luxurious Brand, Hugo Boss
Needless to say what brands are for us. We all like wearing branded clothes, shoes, in other words the whole attire. We all love brands because of the luxurious appeal what we get after wearing these brands. Brands do not only add style statement but now have become necessity for our wardrobes. We chose brands for their exclusive and unique collection which make us look different in the crowd. Every brand has it’s story behind the success and downfall. One brand among these is Hugo Boss often styled as BOSS, is a German luxury fashion house. It was founded in 1924 by Hugo Boss and it’s headquarter is in Metzingen, Germany.
BOSS core brand epitomizes authentic, understated luxury. The men’s collection offered modern, refined business and evening wear with its casual looks and sportswear after work. The women’s collection stands for feminine styles with fine fabrics and sophisticated look. The rich array of modern business wear, exclusive leisure wear and glamorous evening apparel fusion with fashionable silhouettes. Shoes to accessories , supplemented by watches, sunglasses and fragrances.
“The effort that were made to make in-roads in the luxury market didn’t prove to be particularly helpful for our business,” said Langer. Newly appointed CEO of Hugo Boss, Mark Langer says “the 92 year old German brand will be abandoning its attempt to become a true luxury brand.” Factors which affected the worldwide luxury was slowdown of the brand’s economic and political uncertainty. In US and changing tastes in China, have contributed to the tough competition to brand.
The managing board of boss Claus-Dietrich Lahrs had taken the German label to its success but slowly they did not reached the targets. After opening more than 400 stores worldwide and putting a bigger focus on women’s wear they thought that the idea would success. But unfortunetly the luxury sector is now going through its most severe slowdown in seven years. The brand believes that soon they are going to earn the trust of the costumers. The company assures that this is the year of their reinvestment and reach the level of the company more then it was before.