00:00Iconic fashion brand Hugo Boss, CEO, has spoken exclusively to India today on how India is emerging as a key growth market.
00:08Listen in to why Hugo Boss sees India as a key growth market amid global slowdown.
00:16Tell us about this entire repositioning, particularly with regards to the Indian markets, because we are an Indian channel.
00:23Yes, thank you for having me, by the way. I appreciate it, and I'm happy to be here and talk about Hugo Boss.
00:31So we had basically a new strategy, or we put a new strategy in place, that's four and a half years ago, called Claim 5.
00:40And with Claim 5, we transitioned the whole company.
00:43First, we had to refresh the brand, because we lost some relevance.
00:48We have repositioned and refreshed the product, because we were known only as a suit brand.
00:54And we actually transformed the brand into a 24-7 lifestyle brand for men and for women, without losing, of course, the suit business.
01:03And then we did, you know, also on omnichannel, we had retail and we had wholesale, but we combined it as omnichannel, because you have to be omnipresent.
01:13We digitalized the whole company, and we had to put a new culture in place that is based on trust.
01:21So this transformation has happened from the U.S. to Europe, to Asia, and, of course, into India, which we see big potential.
01:32I think the market, not only in terms of production, but of point of sales.
01:36I mean, shopping centers are opening, the economy is quite, customer sentiment is good in India, whereas the rest of the world, it's under pressure.
01:47But India, today we have roughly 15 stores, and we want to double those stores in the next two, two, three years.
01:55And we see in India, the brand is well-received for men and for women.
02:01And just that you understand, Hugo Boss is a platform.
02:04We said Hugo Boss is not a brand, Hugo Boss is a platform.
02:07And on that platform are two brands.
02:08One is Boss for Millennials, and that says everybody can be a boss as long as you do something, as long as you stand for something.
02:16It doesn't matter if men or women.
02:19Hugo is more like the younger brand.
02:22You go your own way.
02:23It's more rebellious, and for the...
02:25So you go is essentially you go.
02:27Yes.
02:28Oh.
02:29That's how we...
02:30That's the story behind it.
02:31Oh, that's actually quite interesting.
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