Hugo Boss CEO says end of crisis is near
German premium fashion house Hugo Boss sees growing signs that the fashion industry has turned the corner and expects it to get back to past growth rates from 2011 as well-heeled shoppers splash out again.
The end of the crisis is slowly beginning to show, Chief Executive Claus-Dietrich Lahrs told Reuters in an interview at the Berlin fashion week on Thursday.
Hugo Boss will show the winter 2010 collection of its flagship label Boss Black in Berlin. Boss Black features elegant business, leisure and evening wear and its latest designs show rich, flowing fabrics, prints and a lot of attention to detail.
Hugo Boss is the latest to join an optimistic chorus of fashion and luxury retailers, gaining confidence after Christmas sales turned out better than expected for some and shoppers started to treat themselves again after months of restraint.
I m quite optimistic for the second half of 2010 and for what will follow in 2011. I expect that 2011 as a full year will enable the industry to get back to previous growth rates again, Lahrs said.
Hugo Boss plans to open about 50 own retail stores worldwide per year from 2011, Lahrs added.
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