Hugo Boss Essay

5038 Words21 Pages
Strategic Management Report 1 Contents 4 | Company Background 4-5 | PESTLE Analysis 6-7 | Porter’s 5 Forces 8 | SWOT Analysis 9 | Strategy Plan 10-11 | Strategy 1: Exploiting Global Growth 12 | Strategy 2: Driving Retail 13 | Strategy 3: Strengthening Womenswear 14-19 | Appendices 20 | References 2 3 Brief Company Background The HUGO BOSS Group is one of the world market leaders in the premium fashion and luxury segment of the apparel market ( 2012). It is a German fashion company founded in 1924, that sells womenswear apparel, accessories, childrenswear and a range of licensed products, however it is most widely known for its Italian made men’s suits. (For brand portfolio see appendix 1.1) Hugo Boss has a huge celebrity following from Morgan Freeman, to Samuel L Jackson and David Beckham, and has grown internationally to become a global power brand. External Analysis PESTLE Economical Western Europe is currently facing a difficult economic situation, so the purchasing power of European markets is weak. However other emerging markets such as China and the rest of Asia and South America have a growing economy therefore present a potential opportunity for Hugo Boss, within the premium and luxury market, to expand. (Roberto La Rocca, 2010) It has been seen in recent years that China in particularly, has seen a significant growth in its luxury sector, resulting again in huge potential for growth opportunity for Hugo Boss. From the figure 1.0 we can see China is likely to be the largest luxury goods market in the world by 2020 and will continuously increase. Furthermore, currently the Euro has depreciated against Chinese currency, resulting in exporting to China advantageous to Hugo Boss at the moment. This will therefore benefit Hugo Boss when trying to expand across the Asian market. Social

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