Can Frequent Resignation Bring Vitality To The Shrinking Of Hugo Boss?

Hugo Boss, the first men's brand to hit the rocks, announced the resignation of CEO recently.

Even if we leave repeatedly, can it bring vitality to the shrinking of Hugo Boss?

It is reported that

Issued a statement, said group brand official CBO Christoph Auhagen confirmed leaving.

According to the official press release, Christoph Auhagen has been in the Hugo Boss group for six years, and has long been responsible for core businesses such as creative management, brand management, procurement and production.

And Christoph Auhagen is a member of the board of directors of the group.

In addition, on the same day, the group also announced new developments.

Candidates.

As a successor to Christoph Auhagen, the candidate is Ingo Wilts.

The two will complete their handover before November 1, 2016, and Ingo Wilts will take the initiative at that time.

Although the group adopted measures for the serious recession of the Sino US market, it quickly closed down the mainland stores after releasing the 2015 financial report. However, for the current predicament, the group seems to be unable to achieve its effect by reducing the scale of investment and evaluating the existing store portfolio.

As the group's men's clothing business continued to retrogress, though there were Chinese American designers.

The creative director of women's wear has recorded a strong double-digit growth. However, due to the backsliding of the group's core men's clothing business has dragged down the overall performance, Hugo Boss's core earnings recorded only a slight increase in the last financial year.

In the previous fiscal year, 590 million 800 thousand euros rose to 594 million 100 thousand euros, far below the market expectations of 605 million 500 thousand euros.

At the same time, core earnings EBITDA and net profit were also lower than market expectations.