The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The German retailer anticipates sales in 2022 to increase between 20 percent and 25 percent to hit a new “record level” between €3.3 billion and €3.5 billion ($3.3 billion and $3.5 billion), the company said in a regulatory filing Wednesday.
The brand had previously accounted for sales between €3.1 billion and €3.2 billion this year.
The brand credited its branding refresh — which saw the launch of its individual “Boss” and “Hugo” lines to distinguish between its higher-end and more junior product offerings — for a 34 increase in second-quarter sales compared to the same period in 2021.
Buzzy partnerships such as Boss’ tie-up with viral TikTok star Khaby Lame, and Hugo’s collaboration with streetwear line Mr. Bathing Ape also helped to drive excitement in the brand among new audiences.”
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[Hugo Boss’] branding refresh resonates extremely well with our customers around the globe and will further drive brand momentum,” said chief executive officer Daniel Grieder in a company statement. Grieder joined the brand from Tommy Hilfiger in June 2021.
Learn more:
The Strategy Behind The Hugo Boss Rebrand
Serre, who grew sales by 20 percent in 2023, has been named Pitti Uomo’s next guest designer. She’s using the opportunity to show her men’s collection for the first time.
Hermès’ elusive sales strategy is at the centre of a new legal challenge for the French luxury giant. BoF breaks down the practices under scrutiny and what the suit could mean for the fashion industry at large.
A sharp drop in the label’s Asia-Pacific sales is the latest sign that Chinese luxury demand is cooling.
This week, Kering flagged sales were down 20 percent at its flagship brand, knocking confidence in the group’s turnaround strategy. ‘A more drastic solution is required,’ one analyst wrote.