China remains a growth opportunity for Hugo Boss, a German fashion brand, as the company continues to explore ways to meet the needs of Chinese consumers, said CEO Daniel Grieder.
In an interview with China Global Television Network (CGTN), Grieder said that despite declining consumer sentiment around the world, companies can still find new ways to reach customers.
"If you talk about straight into the market and the global situation, it's a challenge and you have to consider it. It's a fact wherever you go, consumer sentiment is down. They are careful how they spend and that is affecting, I think, all the industries. Everybody is thinking, I'll wear my blazer another season, or I'll drive my car another year and so on. So that is a fact. However, I think you always, and in a crisis, you can always say you have more opportunities, and you can seek for opportunities," he said.
Grieder remains optimistic about finding such opportunities in China, as the European brand explores strategies to build its relationship with shoppers in the country.
"It's at the moment also more difficult than it was in the past, but it remains a growth opportunity in China. I think we, as a brand, we just have to find a new approach, how to approach the customer in China. And it's very simple. We are a European brand. We cannot just say what is good in Europe is also good in China. So we adapt also to the China needs," the CEO said.
He also stressed that Hugo Boss has learned much from Chinese counterparts whose business methods work well in the Chinese market, including the trend of selling products directly through social media.
"We learn a lot how they do it. We have to learn it. The social commerce, that comes from China and selling on TV and all that. We never experienced that. But in China, it's working. It's very important. And I think it's only a question of time where, and it's happening now, that Chinese brand also come to Europe and to the States. I expected that already 10 years ago that this is going to happen. And now you see, and I think that's great," he said.
Hugo Boss CEO bullish on Chinese market despite global downturn in fashion
A pair of powerful, shallow earthquakes have wreaked havoc across Venezuela, collapsing buildings, failing power supplies, disrupting communication networks, and forcing residents to seek shelters.
The twin earthquakes, measuring 7.2 and 7.5 magnitude and hitting the country just 40 seconds apart on Wednesday, were the strongest to hit the South American country in more than a century and the deadliest in decades.
The coastal state of La Guaira is the hardest-hit area, with widespread infrastructure collapse and significant damage extended to the capital city of Caracas and surrounding states.
In the state of La Guaira, home to the country's main port and gateway to the capital Caracas, a commercial center has been completely destroyed, and a bakery, shops, and residential blocks have been reduced to rubble.
"Everyone ran outside because we were scared. Families and neighbors are gathered here, and some in the parking lot behind the tower. There is a big parking lot over there. Everyone remains outdoors, fearing that something further might occur," said Maryorin Mendez, a local resident.
Another resident Diana Linares recalled the moment of escaping from the 11th floor of the "dolphin tower."
"I was on the 11th floor of Building 1 of the 'dolphin tower' with my mom. We were at home when the earthquakes struck, so we had to rush outside immediately. Escaping was a struggle because the door was jammed. We couldn't get it open at all. We had to force it open with our bare hands before finally escaping and running down the stairs. As you can see now, that area suffered severe damages. The walls collapsed. In fact, we barely made it out at the time," Linares said.
The twin earthquakes have killed at least 235 people and injured more than 4,300 others, the country's Health Minister Carlos Alvarado said on state television on Thursday evening.
The Venezuelan government has announced various measures to respond to the disaster, and the international post-earthquake aid has poured in. Meanwhile, local residents said more help is urgently needed.
"Many people need help here. We hope other countries can provide support, sending in heavy machinery and rescue personnel, because many people are still buried under the rubble. We also hope that the government will send soldiers, firefighters, and police from Caracas and other states as the situation here is terrible and people are trapped. We need more manpower, machinery, equipment, and drinking water. This is just a beginning, but it's clear that it will get very hard for us. Almost the entire state of La Guaira has been destroyed," said Dani Riso, a local resident.
Hospitals in La Guaira state have been overwhelmed as waves of injured victims have kept arriving, while emergency supplies such as drinking water are being rushed in.
Operations at Venezuela's largest airport, Simon Bolivar International Airport, have been suspended, with all flights canceled, leaving many travelers stranded.
Twin devastating quakes wreak havoc across Venezuela
Twin devastating quakes wreak havoc across Venezuela
