Hugo Boss has elevated its fiscal year 2023 targets following a highly successful fourth quarter.
The brand reported 13 per cent growth in currency-adjusted group sales to £ 1.013 million during Q4, with all brands, regions, and channels contributing to this achievement. Preliminary figures also indicate a 17 per cent increase in EBIT, reaching £ 104 million.
The company sustained its double-digit growth trend from previous quarters, witnessing a currency-adjusted revenue surge of 26 per cent, driven by robust digital growth and strong brick-and-mortar sales. Brick-and-mortar wholesale saw a 5 per cent Y-o-Y increase, while the license business recorded 15 per cent sales growth.
For the entire fiscal year 2023, currency-adjusted sales soared by 18 per cent, reaching a record level of € 4,197 million, with EBIT experiencing a substantial 22 per cent increase to £ 353 million on a preliminary basis. Hugo Boss attributes its success to strategic marketing, product innovations, and distribution initiatives aligned with its Claim 5 strategy.
CEO Daniel Grieder stated “The double-digit top- and bottom-line improvements in the important final quarter are all the more remarkable considering the current challenging global market environment. With our strong brand momentum and the ongoing successful execution we have laid a robust foundation for continuing our market-share-winning trajectory and making further progress in becoming one of the top 100 global brands.”
