In January 2024, leading fashion and lifestyle brand Hugo Boss Group reported a notable 18 per cent increase in sales for fiscal year 2023 when adjusted for currency fluctuations. The total sales in the group’s currency have risen by 15 per cent to reach € 4.1 billion.
Marking a significant milestone in the company’s history, Hugo Boss surpassed the € 4 billion revenue mark for the first time, surpassing its mid-term sales target well ahead of schedule. To ensure the continuity and long-term success of the business, the supervisory board recently announced the early extension of its CEO and managing board chairman Daniel Grieder’s contract, along with his team, until December 2028.
CEO Daniel Grieder expressed satisfaction with the robust performance, attributing it to the successful execution of the ‘Claim 5’ growth strategy, which propelled both Boss and Hugo brands forward. The company’s operating profit (EBIT) saw a notable 22 per cent increase, reaching € 410 million.
Looking ahead to fiscal year 2024, Hugo Boss anticipates sales growth between 3 per cent and 6 per cent, aiming for a revenue range of € 4.30 billion to € 4.45 billion. Despite prevailing macroeconomic and geopolitical uncertainties, the company foresees a slight delay in achieving its 2025 sales target of € 5 billion.
