Hugo Boss to abandon luxury?

Hugo Boss may be ready to abandon the luxury segment to return its focus to its core business: menswear.

This was stated by Mark Langer, Hugo Boss CEO, to German broadsheet Handelsblatt. Langer explained the company is not satisfied with the results obtained from the luxury sector as Boss has seen sales dwindle in both China and the USA and its womenswear has failed to achieve the figures of its men's offer.

Lancer's view come in stark contrast to his predecessor, Claus-Dietrich Lahrs, who had focused heavily on womenswear and the opening of 400 stores worldwide. Longer appears to reverse Lahrs' decision, and will close unprofitable retail outlets and cut annual costs of about 50 million euro.

Since 2013, the creative direction of Boss' womenswear has been in the hands of New York designer Jason Wu.

Photo credit:Hugo Boss watch campaign, source: Hugo Boss Facebook