German fashion house Hugo Boss is reverting to its premium menswear roots after admitting that the luxury market "didn’t prove to be particularly helpful for our business."
The label is looking to its past success to turn around the business, which has struggled in recent years in key markets including China and the US. Under the leadership of newly appointed chief executive Mark Langer, Hugo Boss will focus on business suits for its flagship Boss label, after trying to push in to the luxury world by expanding its womenswear offering and opening boutique stores.
"The effort to make in-roads in the luxury market didn’t prove to be particularly helpful for our business," Langer told German newspaper Handelsbladtt, adding that Hugo Boss remains "an upscale premium brand".
Langer intends to cut costs by $54m, with the closure of around 40 of its underperforming stores also in the works.