FRANKFURT: German fashion house Hugo Boss on Thursday scrapped its sales target for 2015 due to slower luxury spending in Europe, the United States and China, sending its shares lower. The group now expects its group sales to rise by a medium single-digit percentage on a currency-adjusted basis, from €2.57 billion (Dh10 billion) in 2014. In November, Chief Financial Officer Mark Langer already said that achieving the previous target of €3 billion, set in 2011, would be difficult. Europe is Hugo Boss’s most important market with a 60 per cent share of group sales. The United States accounts for nearly 20 per cent and China for about 8 per cent.