German fashion house Hugo Boss reported strong quarterly sales growth in China and the United States on Wednesday but saw a decline in its home market and for its Hugo brand that it is updating for younger consumers.
The German fashion house expects sales growth to accelerate in 2018 thanks to a shift to add more sportswear and casual styles but is more cautious on profit as it keeps up investment in revamping stores and its website.
The Hugo Boss supervisory board decided at a meeting on Wednesday to extend the contract of CEO Mark Langer for a further three years. He will continue to serve as CEO of the German brand until December 2021.
Andreas Streubig has previously spent more than two decades at Hamburg-based Otto Group, where he held several senior positions, including head of sustainability. At Hugo Boss, he will report directly to CEO Mark Langer.