Bullish on prospects in nation, Hugo Boss plans more stores, sub-brands

GENEVA — China has become the world's new fashion and technology trendsetter, said Daniel Grieder, CEO of Hugo Boss.

The global fashion and lifestyle company, headquartered in Metzingen, Germany, has around 17,000 employees worldwide and sells women's and men's apparel, shoes and accessories. Grieder has been its CEO since June 2021.

"The Chinese people are always open to exploring newness and expect not just high-quality products from a brand, but also high-quality consumption experience like our trendiest products," Grieder said in a recent interview with Xinhua.

Grieder said Chinese consumers are also "very digital and tech-savvy. We see a lot of trends that we can experience in China first, sometimes before they spread in Europe".

"The Chinese people … want new experiences in the stores and, of course, online," he added.

Grieder also expressed satisfaction with the brand's performance in China.

Driven by China's growing consumption power, the company had announced plans to launch more stores and sub-brands.

"We already have more than 200 points of sale in China in 65 cities. We have a very strong team in place and we are in a very strong position. We see a lot of opportunities to open more stores but also to launch new sub-brands," he said.

Earlier this month, the company reported a 25 percent jump in currency-adjusted group sales to 968 million euros ($1 billion) in the first quarter and said it expected group sales to increase by 10 percent to around 4 billion euros in 2023.

Grieder said that China was on a positive momentum fueled by high consumer demand. "We are on a good path in China," he added.

Xinhua