Hugo Boss Winding Down Expansion

Hugo Boss (Metzingen, Germany) announced the number of stores it will open in 2016 will be greatly reduced from the amount it has been opening annually. The company has averaged about 100 new store openings a year over the past five years, but next year, it anticipates opening between 10 and 15 total. Those locations will be located in what the company is calling “premium locations,” such as London’s Regent Street and New York’s One World Trade Center, reports Reuters.

The company also has plans to invest heavily in its online sales business as well as bring e-commerce logistics in-house within the year. It also predicted that 2016 sales growth would not reach the company’s long-term target for a high single-digit increase.