Hugo Boss Promotes Mark Langer Internally, And CEO Policy Continues To Update.

Hugo Boss has relied heavily on the Chinese market, and because of the continued implementation of the anti-corruption policy in the Chinese market, the group's main business men's wear has been unprecedentedly hit in China, and some European men's boutiques have also been closed down in the European market.

After the departure of his predecessor, CEO, he left.

Finally, the new CEO candidate was announced recently.

Generally speaking, in the hope of new CEO, the group will choose new external candidates as the support of the core management team, and try to use fresh force to promote the development of the old department.

This time, Hugo Boss did not know clearly that the outside candidate did not dare to take a risk in the group, or was well aware of the core of "knowing each other and winning the battle".

Candidates were selected from within.

The appointment will be nominated several days later.

Hugo Boss is inclined to dig the old ones in the recent battle.

Perhaps in the face of the current situation of sunset, the old familiar will be able to understand the crux of Hugo Boss more clearly.

This time, CEO became a Hugo Boss for 13 years.

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Before Mark Langer was the chief financial officer of Hugo Boss, he joined Hugo Boss in 2003 and was promoted to be a board member in 2010.

He will also serve as chairman of the management committee.

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The demand for global menswear retail business has dropped, and Hugo Boss has been forced to enter the store in the 2015 fiscal year, and CEO has become a backpack.

But the situation is far from what we imagined.

It is reported that in the first quarter of the current fiscal year 2016, the total income of the group decreased by 4% to 643 million euros compared with the same period in the first quarter of fiscal year, compared with 668 million euros in the same period last fiscal year.

In addition, after the exchange rate adjustment, it recorded a 3% decline, and the group's net profit in the first quarter dropped by 49%.

In the same quarter, the total value of European market revenue declined by 2% in the first quarter of Hugo Boss. The US market, which is one of the main markets, also recorded a 8% decline, while the Asia Pacific market declined by 5%.

In addition, in order to maintain a sustained decline in the Chinese market for the salvation of the Chinese people, the group will start to adjust the price of the Chinese region by 20% from the spring series.

However, due to the general situation, the group added 8 stores in the first quarter, mainly because the demand for men's clothing in the European market has not declined significantly.

In order to cope with the weak economic growth trend, the group is expected to cut costs and close shop and other measures, is expected to reduce the cost of about 50 million euros to overcome the difficulties.

In addition, the group also said that the weak growth trend is expected to ease in the second half of the fiscal year.

But for now, I am afraid that the improvement that the Group believes does not achieve the desired state.