The News Of Hugo Boss'S Explosion Or Turnover Is Shrinking.

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 in a few days ago Hugo Boss issued a statement, said group brand official CBO Christoph Auhagen confirmed leaving.

According to the official press release,

He has been in Hugo Boss group for six years, and he has long been responsible for core business such as creative management, brand management, procurement and production.

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

On the same day, the group announced new CBO 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.

Though the group is in serious recession,

The measures were taken to close the mainland stores quickly after the 2015 financial report was released. But for the current predicament, it seems that the group can not achieve any effect by reducing the scale of investment and evaluating the existing store portfolio.

As the group's menswear business continued to retrogress, although the Chinese designer Jason Wu, the creative director of women's wear, recorded a strong double-digit growth, the backsliding of the group's core men's clothing business dragged down the overall performance.

Therefore, in the last financial year,

The core earnings recorded only a weak growth, rising from 590 million 800 thousand euros in the previous fiscal year 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.