Germany: Hugo Boss steps up expansion in China

German fashion brand Hugo Boss plans to shorten inventory turnover to help the company accelerate growth in retail markets with higher economic growth, like China.

The company said that it aims to increase the number of stores to 700 from current 450 in the next five years. In addition, it planned to shorten the delivery period of some products from 50 weeks to 38 weeks in 2011. 

The company, whose major shareholder is private equity fund Permira, launched a joint venture in China this July, which is predicted to set up more new stores in the Chinese market. By 2015, China will become one of the top three markets for the company.