The German fashion house expects sales growth to accelerate in 2018 thanks to a shift to add more sportswear and casual styles but is more cautious on profit as it keeps up investment in revamping stores and its website.
The Hugo Boss supervisory board decided at a meeting on Wednesday to extend the contract of CEO Mark Langer for a further three years. He will continue to serve as CEO of the German brand until December 2021.
Hugo Boss said on Thursday that improving its online business will be a top priority this year as the struggling German fashion house hopes to avoid another decline in sales and cement a recovery in China.
The new chief executive said he expects to return the struggling German fashion house to growth in 2018, announcing plans to simplify its brand portfolio and adjust prices in a bid to appeal to younger customers.