According to reports in foreign media, Mark Langer, chief financial officer of Hugo Boss, said during an interview that the company has signed an agreement to set up a joint venture in China in the second half of 2010.

With this move, Hugo Boss expects to turn China into its third-largest market in the world.

Langer told Germany's Boersenzeitung that Hugo Boss has reached an agreement with the Macau-based fashion retailer Rainbow Group for the establishment of the JV, in which Hugo Boss owns a 60% stake.

Originally from Germany, Hugo Boss is a well-know luxury brand that focuses on the sales of apparel, perfumes, watches, and other accessories. Its first perfume product under the brand of Boss was launched in 1993 and has been leading the world's perfume market since then.