Hugo Boss: China's Luxury Market Is In An Explosive Competition.

< p > > a href= "//www.sjfzxm.com/news/index_c.asp" > luxury goods < /a > manufacturers usually blame the Chinese government officials for their poor sales growth. However, Hugo Boss executives say publicly that we have overlooked a more important factor: the explosive competition of China's luxury market. < /p >
< p > with China becoming the most important growth market in the global luxury industry, high-end retailers including LV and Michael Kor begin to expand rapidly in the country. According to the forecast data from brokerage Asia Pacific market, there are about 1000 luxury stores in China, double the number of 5 years ago. < /p >
< p > in an interview, < a href= "//www.sjfzxm.com/news/index_c.asp" > Hugo Boss < /a > CEO Klaus Dietrich Lars pointed out: "obviously, China is more competitive than any other market." According to statistics, the German high-end brand has 105 exclusive stores in the mainland of China. In 2011, the brand announced that it will add 60 stores in China by 2015. < /p >
< p > Lars claims that the slowdown in the growth of the luxury goods industry has not changed the Hugo Boss plan. What has changed is that it needs to be smarter than its competitors. < /p >
< p > it is reported that Hugo Boss has added new products such as a href= "//www.sjfzxm.com/news/index_x.asp", shoes, /a and accessories to its stores in China. It has also added new parts to women customers, including Internet sales, and the creation of theme sales publications, such as golf and other sports enthusiasts, to provide consumers with more purposeful products. < /p >
Another strategy implemented by < p > Hugo Boss is to make it easier for consumers to buy new products. At a recent fashion show in Shanghai, some products of Hugo Boss could be purchased instantly without having to go to a store to order, which saved customers' waiting time. < /p >
< p > Lars claims that since the Chinese government banned civil servants from using government funds to buy luxury goods in 2012, sales of Hugo Boss have weakened. He believes that "growth will continue, but the growth rate is more or less, it is still unknown." < /p >
< p > it is reported that in September 2012, Burberry warned that in the first quarter, the Asia Pacific sales growth of the brand slowed sharply to 18%, only half of that in the same period in 2011. < /p >
< p > besides, some luxury companies including Gucci have announced that they will no longer expand their business in China. It is reported that earlier this year, Gucci said publicly that it is slowing down the pace of opening stores in China. At present, the brand has 75 stores in China. < /p >