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German Fashion House Hugo Boss Seeks Profit From Asia, Online Business

Hugo Boss

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.

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