Hugo Boss makes strong comeback in 2021
Hugo Boss made a strong comeback in 2021 with group sales returning to pre-pandemic levels and growing by 43% to €2.786 billion.
The premium fashion brand also saw its EBIT improve to €228 million from a loss of €236 million a year earlier.
Hugo Boss said growth was broad based with sales increasing for its BOSS and HUGO brands, as well as across all regions and distribution channels. Its online channel performed particularly well as total digital sales reached 20% for the first time.
The company benefited from the successful execution of several key brand, product and sales initiatives in the period as part of its ‘CLAIM 5’strategy. This helped accelerate the performance of the business in the second half of the year.
Hugo Boss chief executive Daniel Grieder said: “With our strong comeback in 2021, we successfully kicked off our ‘CLAIM 5’ strategy. Right from its start, our growth strategy fuelled brand momentum around the globe. The highly successful branding refresh and ongoing investments will further drive relevance for BOSS and HUGO in the current year.”
Hugo Boss is expecting sales to grow to a record level of between €3.1 billion and €3.2 billion in 2022 with EBIT increasing by 10% to 25% to between €250 million and €285 million.
Grieder added: “We have everything it takes to reach record sales in 2022. As a team, we will take a big step closer towards our goal of becoming one of the top 100 global brands.”
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