Hugo Boss has set out its priorities for growth over the next few years, including a focus on own retail and a shift towards the Boss Green and Hugo brands within its wholesale business.
The German fashion brand wants 75% of its group sales to be generated through own retail by 2020, up from 57% in 2014.
It said future store openings will focus on key metropolitan areas, with Boss stores set to launch on Regent Street in London next month, in the World Trade Center in New York in summer 2016 and in Galleria Vittorio Emanuele in Milan in 2017.
Hugo Boss is also increasing its focus on the core Boss brand within the retail division, with the target of increasing its retail space allocation from 71% of the total mix in 2013 to 80% by the end of 2016.
The space will primarily be taken from the Boss Orange brand, which it said will fall from 14% in 2013 to 6% in 2016.
The Boss brand is positioned between premium and luxury, with shirts priced between €90 (£63) and €229 (£161), compared to the Hugo brand with shirts from €70 (£49) to €120 (£84) for the autumn 16 collection.
Boss Green is priced at a similar level to Hugo, with prices sitting mainly in the premium segment but reaching just into luxury, while Boss Orange sits firmly in the premium price bracket.
In the wholesale division, which accounts for 41% of total sales, the UK is the second biggest market after the group’s domestic market of Germany.
Hugo Boss said it has almost completed its move towards segmenting the Boss, Hugo and Boss Green brands within its wholesale operation.
It is moving towards only distributing Boss within shop-in-shops, and substituting it with the Hugo and Boss Green brands where it is wholesaled.
For the top eight wholesale category customers, the Boss brand has reduced from 75% of the mix for spring 15 to 33% in spring 16, while Hugo has increased from 15% to 41% and Boss Green from 10% to 26%.