Why Hugo Boss sees India as a key growth market amid global slowdown
India Today
Hugo Boss currently has around 15 stores in India and plans to double that number over the next two to three years. According to its CEO, the brand is being well received by both men and women in the country.
Daniel Grieder, CEO of Hugo Boss, says the iconic German fashion house is undergoing one of its biggest transformations in decades, with India emerging as a key growth market. Speaking to India Today, Grieder said the brand has repositioned itself to stay relevant in a fast-changing global fashion landscape, even as demand slows in parts of Europe and the US.
Hugo Boss began its transformation around four-and-a-half years ago under a new strategy called Claim 5. Grieder said the first step was to refresh the brand, which had started losing relevance.
“We were known only as a suit brand. Today, we are a 24-7 lifestyle brand for men and women, without losing the suit business,” he said.
He explained that Hugo Boss now operates as a platform with two distinct brands. Boss targets millennials and carries the message that “everybody can be a boss”, while Hugo is positioned as a younger, more rebellious brand.
While global consumer sentiment remains under pressure, Grieder said India stands out as a strong market.
“Shopping centres are opening, the economy is doing well, and customer sentiment is good in India, while the rest of the world is under pressure,” he said.
Sensex has declined over 6,000 points or roughly 7.5% in a little over two weeks as global tensions and rising oil prices triggered selling in equities.
Speaking in Parliament, Union Petroleum and Natural Gas Minister Hardeep Singh Puri said India has adequate fuel stocks, and there is no cause for concern over availability.
Industry sources told India Today TV that airline operators are now paying additional insurance charges for every aircraft flying into the Middle East, significantly increasing the cost of operations on these routes.
Under law, a domestic household is generally allowed to keep two LPG cylinders of 14.2 kg each at a time. This usually includes one cylinder connected for use and another spare cylinder kept as backup.
Early signals from GIFT Nifty suggest that the benchmark indices could open lower when trading begins. GIFT Nifty futures were trading at 23,784.50 at around 7:58 am. This indicates that the Nifty 50 may open below Wednesday's closing level of 23,866.85.
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The move comes as global energy markets remain on edge due to escalating tensions linked to the conflict involving Iran, which has raised fears of disruptions to crude oil shipments from the Middle East.
India consumes roughly 5.3 to 5.5 million barrels of crude oil every day. However, domestic production is only about 0.6 million barrels per day. This means the country depends on imports for nearly 85% of its oil needs.
At around 10:47 am, the BSE Sensex was down 750.68 points or 0.96% at 77,455.30, while the Nifty 50 slipped 208.25 points or 0.86% to 24,053.35.
Air India said the fuel surcharge is due to the sharp rise in aviation turbine fuel (ATF) prices since early March 2026, triggered by supply disruptions in the Gulf region.
Rahul Bhatia expressed gratitude to employees who worked tirelessly to restore operations during that challenging period, praising their resilience and dedication.
The Iran-US conflict has disrupted shipping through a key global oil export route, pushing oil prices higher. As a result, airline tickets on some routes have become much more expensive, and there are growing concerns that travel demand could weaken if the situation continues.