Hugo Boss to take full control of China store network

High-end German clothing retailer Hugo Boss on Wednesday announced it is buying a 40% stake in its China and Macau joint ventures from franchise partner Rainbow Group, in a move to take full control of its store network and improve the way the Hugo Boss brand is presented, Reuters reported. The buyout mirrors a broader trend by luxury goods groups in emerging markets, in which big brands have been opening more directly-operated stores, buying back franchises and taking stakes in retail partners in Asia, Russia and the Middle East to give them more control over marketing and store design.