Taking charge The HUGO BOSS groupis represented in the fashion market by its brands BOSS, HUGO and BALDESSARINI. The collections behind these brands and their lines are designed to appeal to different target groups. The core BOSS brand includes the BOSS Black, BOSS Selection, BOSS Orange and BOSS Green lines, along corresponding collections of accessories. Combining creativity and individualism, the HUGO brand offers confident men and women a collection that to invent their own styles. Designer label BALDESSARINI is all about luxury infused with a unique contemporary flair, for men who a less than the very best. Besides offering ready-to-wear products, HUGO BOSS has rounded out its collections by integrating shoes and leather products into its business. Licensed products complement its outfits, including fragrances, cosmetics, watches and eye-wear. The company also has a comprehensive array of merchandising items, including jewelry and lifestyle accessories. With over 5,000retail in 102 countries, the German fashion giant sees China as one of the major driving forces behind its international business. This is why Chairman and BoardMember Bruno Saelzer has ambitious targets. The company plans to open 10 new stores in China every year. HUGO BOSS does not simply see Beijing, Shanghai and Guangzhou as the only important cities in China. Its ambitions extend to comparatively poorer inland cities such as Hefei in East China’s Anhui Province. Taiyuan in North China’s Shanxi Province, and even Urumqi , capital of Northwest China's Xinjiang Uygur Autonomous Region. This is a brave plan, compared with many other big luxury brands，most of which only have two or three outlets through out the country. Saelzer says that HUGO BOSS wants to grow along with China’s economic development, adding that the company sees great potential in the country's luxury market. It is the market leader in China, with 65 shops in 37 major cities. Lars Peter Larsen .managing director of HUGO BOSS Hong Kong, agrees with Saelzer. He says there will be more and more demand from the Chinese market for ready-to-wear items. "The economy has shown strong growth, and there are positive indications that this strong growth will continue for the next few years. This will mean a relatively broader and wealthier group of customers." Larsen says that the major task for all international luxury brands in China is to find prime retail space. “Through constant meetings and discussions with developers and mall management companies, HUGO BOSS, together with other luxury brands, is able to secure better locations," Larsen says. Market competition is not a huge concern for the company. HUGO BOSS has built up a strong customer base and high brand awareness throughout its 12 years in the Chinese market.Larsen admits that the company faces a challenge when fighting against fake products. It is working closely with local investors and the State Administration for Industry and Commerce to combat counterfeiters. "It is also quite helpful that the authorities have recognized HUGO BOSS as a 'famous brand' in China,” he says. China’s Regulation for Evaluating and Managing Famous Trademarks reports that famous brands and trademarks refer to registered trademarks that are well known to certain groups of people and enjoy greater visibility on the market. They can therefore enjoy both administrative and judicial protection throughout the country. HUGO BOSS released details from its annual report in January, posting a 23 per cent rise from last year's net income. This was driven by its booming women’s clothing line, which beat the average forecasts of both the company and analysts. Net income came in at 108 million euros (US $128.77 million) last year, up from 88 million euros (US $104.92 million) a year earlier. “The BOSS Black collections were particularly successful, with sales growth of 38 per cent," Saelzer says. The company expects sales and earnings to continue to rise in 2006.Passage 5:With 65 shops in 37 major cities, the HUGO BOSS group_______
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