German Fashion Company Hugoboss Joined Hands With Chinese Fashion Retailers Rainbow

According to sources, Hugo Boss, a famous German fashion company, is negotiating with the Chinese apparel retailer rainbow group and plans to establish a joint venture to promote brand growth in China, one of the most critical markets in Asia.

A well-informed source close to the HugoBoss group said, "rainbow group is now an agent of Boss in China.

Now they want to pform this partnership into a joint venture so that they can match the growth rate in the future.

Another source also said that Hugo Boss is negotiating with the rainbow group.

Hugo Boss regards China as one of the key growth markets of the brand, and does not hesitate to spend huge sums of money on local development to reduce its dependence on the European market.

Hugo Boss said there was no final conclusion and declined to comment further.

After receiving the inquiry mail, the rainbow group said that as the matter is "commercial secret" and we are only one of the agents of HugoBoss, we feel that it is not appropriate for us to disclose such information or to comment on it.

About 10% of HugoBoss's total revenue is contributed by the Asia Pacific region, and the company plans to double it to 21% by 2015.

Boss plans to open 20 stores a year in China, and the company has said joint ventures are one of them.

As the business of China's market is developing, it is imperative for Hugo Boss to cooperate with existing and future business partners to establish a stable sales network to meet the increasing demand for sales.

The first source said, "Boss is more than 50% of the stake in a joint venture."

Rainbow group is one of the main agents of Hugo Boss in the Chinese market.

It opened its first clothing store in Macao in 1980, currently operates 31 clothing stores in Macao, and has 57 clothing stores in big cities such as Shenzhen, Guangzhou and Beijing.

The Rainbow Group owned by Xiao Wanyi also operates other brand stores such as Escada, Ermenegildo Zegna and Emporio Armani.