HUGO BOSS Helps To Restore Growth And Pform

Germany

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It will also usher in a great pformation. The reform plan will cover many aspects, such as price, product line and store strategy.

The most important point is to streamline product lines.

HUGO BOSS previously had Hugo men's and women's wear, BOSS men's and women's wear, BOSS Orange men's and women's wear and BOSS Green.

Seven clothing product lines, and now, the brand decided to cut off BOSS Orange and BOSS Green two brands, together into the main line of BOSS, HUGO BOSS will only HUGO and BOSS two main lines.

In order for two product lines to be covered by different groups of people, HUGO BOSS will also lower the price of HUGO to meet younger consumer demand, and the final price will be about 30% lower than that of BOSS. It will also take the lead in trying to digitalization process.

BOSS continues to target more high-end business people.

HUGO BOSS will also divide new competitors according to the new product line.

After that, it will compete with BOSS from Burberry, Prada and Armani, HUGO opponents to Rag Bone and the Kooples.

It should be noted that the future HUGO BOSS will also pull energy from women's clothing.

From the next New York fashion week, people will only see men's wear series in the show.

But the result is hard to predict. HUGO BOSS is now responsible for Jason Wu, a Chinese designer, but it is obvious that the star designer is likely to face the embarrassment of being unable to get out of it.

But according to Glossy, in the management of HUGO BOSS, adjusting the brand portfolio is a must.

Streamlining action is to reduce the market's confusion of brand image, which is similar to the strategy of many luxury brands in recent years.

As consumers become more sophisticated today, opening up licensing and expanding sub cards can not help the main brands to make more money. Instead, they disperse management managers and increase operating costs.

HUGO BOSS's performance has gone down this year.

In 2016, its net income in the first quarter dropped 49% compared to the same period last year, and net income in the second quarter dropped by 84%, which has fallen below the worst expectations of analysts.

In order to boost sales, HUGO BOSS has cut prices for new spring products in China, but it doesn't help. It seems to have fallen behind the ranks of luxury goods.

Generally speaking, fashion brands often want to improve their brand image by closing up and upgrading their main stores.

HUGO BOSS is expected to slow down the expansion of the channel and invest more money in the brand's Internet construction.

The revision of HUGO BOSS website and the APP online plan have already started in the last two months. The brand obviously has noticed that the data of mobile consumption has increased by about 20% in the past two years.

The company is expected to help grow its performance by 2018. However, the overall strategy of HUGO BOSS is not innovative.

For example, HUGO BOSS hopes to gradually achieve global price unification.

This means that the price of the Asian region will be lowered, and the United States will be stable, while Europe will rise slightly.

At the same time, like Burberry, Coach and other brands, HUGO BOSS also needs to increase its investment in social media, though no brand has yet to say that digitalization can be converted into sales.

From the details of the implementation, the brand has also come up with a marketing method named "UberCentral", which uses Uber to send consumers to stores in order to improve consumers' shopping experience.

But first, not to mention the way, at least in the HUGO BOSS performance of the Greater China region, the Uber strategy is certainly not very good.

Therefore, from the capital market perspective, these new initiatives do not help HUGO BOSS share price rise, analysts will continue to lower expectations, because frugal spending measures have actually been implemented within the group, but no significant results have been achieved. Everything is like a cliche.