Hugo Boss is the latest luxury brand to feel the effects of the slowdown in China.
The company announced that net profit fell 7 percent to EUR75.6 million (USD86.1m), well below analysts’ forecast of EUR82 million, reports the London Evening Standard.
In China, first-quarter sales fell 3 percent. Last year, menswear sales in China, its most important category, fell 10 percent, according to Reuters.
(Source: red luxury)