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Hugo Boss eyes Asia for one fifth of group sales: report

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(Globalpost/GlobalPost)

FRANKFURT (Reuters) - German fashion house Hugo Boss <BOSSn.DE> wants its Asian business to lift its contribution to group sales to 21 percent from 15 percent by 2015, Chief financial Officer Mark Langer told Boersen-Zeitung newspaper.

Langer said about two-thirds of the target should come from China, where Hugo Boss is taking over shops from franchise partners and expanding existing stores.

He said developments in its own retail shops in Japan are "very positive" despite the negative impact of the Japanese yen while Hugo Boss is taking over shops from franchise partners in Singapore.

He said by signing up Jason Wu, a Taiwan-born designer and a favorite of American First Lady Michelle Obama, Hugo Boss expects to further grow womenswear in Asia and its contribution to group sales.

Hugo Boss, mainly known for its men's suits, gets about 11 percent of its 2.4 billion euros ($3.2 billion) in annual sales from womenswear.

(Reporting by Marilyn Gerlach)

http://www.globalpost.com/dispatch/news/thomson-reuters/130629/hugo-boss-eyes-asia-one-fifth-group-sales-report