Hugo Boss has reported a 20 per cent increase in currency-adjusted sales to £859 million (€1 billion) for the second quarter, with double-digit growth across all brands, regions and channels.
According to the firm, there has been growth in both the HUGO and BOSS brands. The SS23 collections have been successful in generating “strong” sell-through rates in all distribution channels.
Triple-digit sales growth was notably “significant” for HUGO, BOSS Menswear, and BOSS Womenswear. BOSS Womenswear saw a 32 per cent increase in revenue, while BOSS Menswear saw an 18 per cent increase in currency-adjusted sales. Currency-adjusted revenues at HUGO rose by 21 per cent.
While Asia/Pacific saw “superior growth,” operations in EMEA and the Americas benefited from local consumer demand and a pickup in tourism.
EMEA sales climbed by 15 per cent as a result of double-digit growth in important European regions including Germany and France.
Growth was facilitated by all channels, with the group’s digital business seeing a 30 per cent increase in sales momentum. Two-digit sales were also driven by brick-and-mortar retail, whose revenues increased by 17 per cent.
Hugo Boss has increased its expectations for FY ’23 in the future. From its earlier prediction of 10 per cent, it now projects sales between 12-15 per cent to a record £ 3.5-3.6 billion (€ 4.1-4.2 billion).
Daniel Grieder, CEO of Hugo Boss, said, “After our highly dynamic start to the year, we continued our strong performance also in the second quarter.”
