The fashion industry loves elaborate runway staging and flowery marketing promises. But a number of problems are disturbing the glamorous world, and for a handful of German labels in particular.
“2016 is the year of consolidation for us,” said Mark Langer, the new head of Hugo Boss, referring to “painful decisions to make the group profitable again.”
Profits have plummeted at Germany’s largest men’s fashion designer. Mr. Langer’s predecessor, Claus-Dietrich Lahrs, was forced to leave in February. Mr. Langer, the chief financial officer, jumped provisionally before officially assuming the chairmanship in May.