Hugo Boss expects to return to growth by 2018

[BERLIN] The new chief executive of Hugo Boss said he expects to return the struggling German fashion house to growth in 2018 as he announced plans to slim down its brand portfolio in a bid to appeal to younger customers at lower prices.

Mark Langer, the former finance chief who was appointed CEO in May, said the company will focus in future on two main brands - upper premium businesswear under the BOSS label, and a new positioning for its HUGO label for a younger audience.

Ahead of an investor day in London, Boss said it expected 2017 to be a year of stabilisation, predicting a return to growth in 2018, with plans to harmonise prices across the globe set to be completed by the end of 2018.

REUTERS