Latest Business News: Hugo Boss Eyes Asia for One Fifth of Group Sales: Report

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Latest Business News: Hugo Boss Eyes Asia for One Fifth of Group Sales: Report

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Latest Business News: Hugo Boss Eyes Asia for One Fifth of Group Sales: Report

by Wochit 1:09 mins

Latest Business News: Hugo Boss Eyes Asia for One Fifth of Group Sales: Report

by Wochit 1:09 mins

German fashion house Hugo Boss Chief financial Officer Mark Langer said that the company wants its Asian business to lift its contribution to group sales to 21 percent from 15 percent by 2015. Langer said about two-thirds of the target should come from China, where Hugo Boss is taking over shops from franchise partners and expanding existing stores. Reports in German media say that ThyssenKrupp , Germany's biggest steelmaker, is examining the possibility of selling part of its European steel business to an investor. A company spokesman declined comment on the subject and pointed to previous statements by Chief Executive Heinrich Hiesinger that Thyssen had no plans to divest European steel operations. Reports say that RCS Mediagroup, the publisher of influential Italian newspaper Corriere della Sera, could be split into three units after a capital hike that is changing the balance of power among its shareholders. The unsourced report. say the split, aimed at extracting value from the debt-laden company, could open the door to new investors

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