German fashion house Hugo Boss is eyeing strong growth in online business and Asia market in 2019.
The fashion house has launched a wide range of more casual and sportswear styles to attract youth. It is also investing heavily in its online business.
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The company is now expecting a high single-digit percentage increase in operating profit for 2019 and a mid single-digit percentage rise in currency-adjusted sales.
“We are ensuring profitable growth in 2019 and beyond. Strong momentum in our own online business and in Asia will make a significant contribution this year,” Chief Executive Mark Langer said in a statement.
Investors are concerned over sluggish demand for luxury goods but Hugo Boss expects ‘overproportionate growth’ in the Asia-Pacific region.
Hugo Boss said it expected strong double-digit growth to continue in its online business, after it reached sales of more than Euros 100 million in 2018 for the first time.