default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Hugo Boss Expects Strong Growth in Asia and Online

The company said it expected a high single-digit percentage increase in operating profit for 2019 and a mid single-digit percentage rise in currency-adjusted sales.
Hugo Boss Spring/Summer 2018 campaign | Source: Hugo Boss
By
  • Reuters

BERLIN, Germany — German luxury house Hugo Boss said it expected its operating profit to rise faster than sales in 2019, predicting strong momentum in its online business and Asia.

Known for its smart men's suits, Hugo Boss has introduced more casual and sportswear styles to appeal to a younger audience and invested heavily in its online offer after a bid to go upmarket backfired a few years ago.

The company said it expected a high single-digit percentage increase in operating profit for 2019 and a mid single-digit percentage rise in currency-adjusted sales.

"We are ensuring profitable growth in 2019 and beyond. Strong momentum in our own online business and in Asia will make a significant contribution this year,” chief executive Mark Langer said in a statement.

Investors are worried about slowing demand for luxury goods as the economy stalls in China, but Hugo Boss forecast "over-proportionate growth" in the Asia Pacific region.

The company said it expected strong double-digit growth to continue in its online business, after it reached sales of more than €100 million in 2018 for the first time.

British rival Burberry reported a 1 percent rise in same-store sales in the 13 weeks ending Dec. 29, missing a 2 percent growth forecast.

By Emma Thomasson; editors: Thomas Seythal and Emelia Sithole-Matarise.

In This Article
Topics
Organisations

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Luxury
How rapid change is reshaping the tradition-soaked luxury sector in Europe and beyond.


Mytheresa may not be leaps above its struggling online luxury peers, but its sales and profit growth are still modest. The company is betting that appealing to top spending clients will keep it from suffering the same fate as its competitors.


Founder and creative director Catherine Holstein has learned firsthand that with great success comes even greater scrutiny. At her downtown Manhattan office, she opened up about what drives her designs, what’s next for the buzzy label and why she’ll never leave New York.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional Summit - New Frontiers: AI, Digital Culture and Virtual Worlds - March 22, 2024
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional Summit - New Frontiers: AI, Digital Culture and Virtual Worlds - March 22, 2024