CEO: How Hugo Boss deals with rising competition in China

A crackdown on gift-giving among China's government officials is one reason luxury sales growth may be slowing, but the threat of competition as more players enter and grow in the market is more serious, said Hugo Boss CEO Claus-Dietrich Lahrs. The German men's fashion brand operates 105 stores in mainland China and plans to open 60 more by 2015, and the shops are expanding their selections of women's fashions, shoes and accessories to encourage customers to buy more in its stores instead of going to rivals, he said.

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