After the third quarter delivered a 12 percent boost to Hugo Boss's womenswear sales, helped along by the appointment of Jason Wu as artistic director, the brand has put a number on its goals for the segment's long-term growth. At the company's investor day in Paris on Wednesday, execs said they expect to see women's represent at least 15 percent of total sales by 2020; currently, it accounts for about 10 percent of the business.
If all goes according to plan, the women's Boss brand will continue to grow at a double-digit clip over the next few years — "product initiatives" in accessories and shoes should help with that. For men's and women's combined, the company is shooting for high-single digit sales growth, recognizing that it's hard out here for a retailer right now.
To that end, while the retail environments that Hugo Boss already operates in may be challenging at the moment, the company is hoping to generate growth by focusing on regions that have "previously been under-penetrated, but offer strong growth potential." Look out, Asia, Eastern Europe and the Middle East: Hugo Boss is coming for you.