Hugo Boss boosted by a strong second quarter

FASHION

Hugo Boss had a successful second quarter with accelerated growth in sales and net profit.

The fashion brand said the momentum was fueled by the continued implementation of its growth strategy introduced a year ago.

Currency-adjusted group sales were up 34% from the prior year period and up 29% from pre-pandemic levels in 2019.

Hugo Boss said the rise was driven by continued strong consumer demand in Europe and the Americas.

The group benefited from several marketing initiatives over the period. These included global brand campaigns for Boss and Hugo which created strong social media buzz and reinforced the brand’s relevance to young shoppers.

The group’s digital business recorded double-digit growth with sales up 11% excluding currencies against a particularly solid comparison base.

Meanwhile, currency-adjusted revenue from brick-and-mortar stores grew 38%.

Due to this strong performance, Hugo Boss expects the group’s full-year sales to increase between 20% and 25% to reach a new record level of between 3.3 billion euros and 3.5 billion euros.

Daniel Grieder, CEO of Hugo Boss, said: “Our impressive growth in the first half reflects the many successes associated with our complete rebranding. We’ve dramatically increased the relevance of Boss and Hugo in a very short time. Building on this momentum, we will continue to work rigorously on the execution of our “Caim 5” growth strategy and pursue our ambition to become one of the top 100 global brands.

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