Leverage of brand potential in womenswear
Womenswear market structurally attractive
The Group has identified good opportunities to expand its position in the womenswear market and repeat the success it has achieved with menswear. HUGO BOSS assumes that it will be able to increase the share of sales contributed by womenswear to at least 15% by 2020 (2014: 11%). The market relevant to HUGO BOSS is even larger in the womenswear segment than it is in menswear. At the same time, the Group holds a significantly smaller share of the womenswear market despite the solid growth of the last few years. However, substantial fragmentation and customers’ greater willingness to change to other brands offer HUGO BOSS attractive new possibilities for reaching new groups of buyers. Despite the intensive competition, especially for shoes and accessories, the Group therefore considers itself to be ideally positioned to play a more prominent role in womenswear in the future, particularly in the apparel segment.
Womenswear business very successful in 2014
HUGO BOSS achieved significant success in womenswear in 2014. This was underpinned by the establishment of a separate organizational structure and the appointment of Jason Wu, one of the world’s greatest design talents in premium womenswear, to the position of Artistic Director BOSS Woman. The two collections presented by Jason Wu last year had an unmistakable design signature, which will continue to define BOSS womenswear in the future. The impressive fashion shows during New York Fashion Week and the resulting media response ensured a significant improvement in terms of brand awareness and perception, which was reflected in double-digit sales growth in 2014.
Upgraded fashion status increasing emotional appeal
BOSS is seeking to further enhance its range of products. By raising the fashion level and offering sophisticated products, BOSS aims to heighten the brand’s emotionality and relevance as a means of boosting its desirability. In this respect, the strengthening of the shoe and accessory range plays an important role in efforts to sharpen the brand core and forge closer links between the individual collections.
Enhanced presentation in the Group’s own retail business
At the same time, the Group is reinforcing the visibility of womenswear in its own retail business. In particular, it is being given a more prominent position in the new stores, which tend to be larger, and often occupies around one-third of the floorspace. With the introduction of global look concepts, great importance is being attached to standardized presentation worldwide. In addition, intensive training for sales personnel reflects the exceptional importance that quality of service has in this segment in particular. The development of a special store concept also aims to optimally address female customers’ needs.
Communication activities make BOSS a prime destination for fashion-conscious consumers
Finally, HUGO BOSS is intensifying its communication activities to make BOSS Woman more attractive to fashion-conscious consumers. In this context, a strong focus is being placed on celebrity outfitting. Fashion shows held during New York Fashion Week, campaigns and PR activities also serve to communicate the unmistakable brand core and establish BOSS as a fashion authority.