Hugo Boss Brand analysis

 

Background:

HUGO BOSS AG, headquartered in Metzingen, Germany, is owned by Hugo Boss Group. It is named after its founder, Hugo Boss. Hugo Boss has been successfully asserting and expanding its position as a global market leader in the upscale fashion market for many years. HUGO BOSS is represented in the fashion market by the BOSS, HUGO and BALDESSARINI brands.

 

International Business:

HUGO BOSS group includes ownership from 21 countries. HUGO BOSS products can be found in more than 100 countries and over 5,000 points of sale. The company has 364 stores around the world.

 

Target Audience:

The brand attracts both male and female aged from 20 to 60 years old. Most of the consumers are full time employee who wants get attention. Younger people are hugely attracted by this brand. Main target market of this brand is younger working class people.

 

Product:

HUGO BOSS GROUP mainly manufactures clothes for men and women. It also produces fragrances, cosmetics, watches, and eyewear through licensed agreements. Hugo offers its products under two major brands, namely, HUGO and BOSS. Brands in the menswear collection include the BOSS Black, BOSS Selection, BOSS Orange, and BOSS Green as well as by the HUGO brand. Brands in the women’s wear group include BOSS Black, BOSS Orange lines, BOSS Green and the HUGO brand.

Price:

Clothing

(Both men and woman)

From £30.00 to £800+

Shoes and Accessories

(Both men and female)

From £130.00 to £800+

Boss Black

(Men’s fragrance)

(Eau De Tiolette) (100ml)

£49.00

Boss Black

(After shave lotion) (100ml)

£37.00

Boss Black

(Deodorant Spray) (150ml)

(Shower gel) (150ml)

£20.00

Boss Orange

(Men’s fragrance)

(Eau De Tiolette)  (100ml)

£57.00

Boss Black

(Men’s fragrance) (100ml)

(Eau De Tiolette) 

£37.00

Hugo

(Men’s fragrance) (125ml)

(Eau De Tiolette) 

£45.00

 

Marketing Activity:

HUGO BOSS promotes itself by advertising their products via Media, i.e. TV, newspapers, banners, internet, etc. Also, sponsorship, product placement, endorsements, direct mail, trade shows, etc help them to promote their brand efficiently in the market. They spent £3.2 million for male fragrance alone in the UK in the year of 2011 (Nielsen Media Research report 2011).

 

Strength:

Over the years image of this brand is established as high value brand. HUGO BOSS has a very good reputation around the world in terms of the quality of products it markets. HUGO BOSS is always desirable. The brand consciousness is very high which results to high market share. Range of products is immense which fulfils almost every ones needs. So buyers keep buying this brand.

 

Weakness:

HUGO BOSS produces so many different types of products. Most of these products are very highly priced. Sales volume is very low in terms of advertisements they do. HUGO BOSS is trying to cope with recent trends. The brand itself is very traditional. The numbers of products they produce in one category are very few compared to their competitors in that category. It results into consumers shift to another brand.

 

Opportunity:

HUGO BOSS can go for adapting to current trend. They can market some specific products for specific country. Some of them could be limited edition. HUGO BOSS can collaborate with other companies and develop very fresh products.

 

Threats:                                                                                               

Fashion world is changing rapidly. New fashion comes in every season. Product from HUGO BOSS could be marketed in wrong time. Competition in fashion business is increasing dramatically every year. Competitors are doing a lot more promotions that HUGO BOSS which may results into the extinction of HUGO BOSS brand. Advertisements from HUGO BOSS are very unchanged. The message could be undelivered in those boring ads.

 

 

 

 

 

Reference:

1. http://www.reportlinker.com/p0384196-summary/Hugo-Boss-AG-BOS3-Financial-and-Strategic-SWOT-Analysis-Review.html

2. http://store-uk.hugoboss.com/menswear/fragrances/24200,en_GB,sc.html

3. http://nyc-fashion.com

 Image

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