Third Quarter Results

Daniel Grieder – CEO
We ended 2023 on a high note, making it a record year for HUGO BOSS. 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 of our ‘CLAIM 5’ strategy, 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.
Daniel Grieder



January 2024 – HUGO BOSS looks back on a very successful fourth quarter, building on the strong business performance of the first nine months of 2023. On a preliminary basis, currency-adjusted revenues in the fourth quarter grew by 13%. In reporting currency, sales increased by 10% year over year to EUR 1,177 million. In light of the robust performance during the fourth quarter, HUGO BOSS achieved its full-year 2023 sales and earnings targets, which had been revised upwards twice during the year.


December 2023 - HUGO BOSS further strengthens its commitment to a more sustainable future by becoming the first company to invest in Collateral Good Ventures Fashion I, a climate-first venture capital fund designed to accelerate sustainability in the fashion industry. The Fund will use this contribution over a period of five years to subsidize several portfolio companies that are in the startup, early growth and potential stages and are developing innovative solutions and technologies in the sustainability field.

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EUR million EBIT
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Five strong reasons for an investment in HUGO BOSS:

Two strong brands

BOSS and HUGO – two strong brands with global awareness, that are clearly distinguished by their fashionable style but meet the same high standards in terms of quality and fit, innovation and sustainability. A 24/7 approach ensures that customers are well dressed across all different wearing occasions with casualization and comfort being key. Two clearly distinguished marketing strategies – with a strong focus on digital as well as exceptional events and collaborations – create excitement among consumers and unleash the full potential of BOSS and HUGO.

Growth strategy ‘CLAIM 5’

The growth strategy ‘CLAIM 5’ aims at driving sustainable and broad-based growth across both brands, all regions and consumer touchpoints. Until 2025, the Company is fully committed to increase sales to EUR 5 billion, claim its position in the consumers’ minds, and keep winning market share for its strong brands BOSS and HUGO. The strategy aims to deliver on the Group´s vision and ambition of becoming the premium tech-driven fashion platform worldwide, and one of the top 100 global brands.

Profitability improvements

With its growth strategy "CLAIM 5," HUGO BOSS also aims to deliver significant profitability improvements. The Group is confident of increasing EBIT to a level of at least EUR 600 million by 2025. Consequently, HUGO BOSS now targets an EBIT margin of at least 12% by 2025. Important investments into the business will be compensated by leveraging operating overheads as well as strong efficiency gains to be realized by optimizing the Company’s global store network.

Strong free cash flow generation

Driven by the the ongoing focus on superior top-line growth and significant margin expansion, HUGO BOSS is confident to generate cumulative free cash flow of around EUR 2.5 billion between 2021 and 2025. Fully in line with its capital allocation framework, the majority of free cash flow will be either reinvested into the business or distributed to shareholders through regular dividend payments. The Company’s payout ratio until 2025 will be in a range of between 30% and 50% of net income attributable to shareholders.

Strong commitment to sustainability

HUGO BOSS is committed to conscious, value-oriented management. Consequently, sustainability is firmly anchored in the Group strategy. The Company’s ambitious sustainability targets include decreasing CO2 emissions by at least 50% until 2030 and aiming for a “net zero” footprint by 2050. HUGO BOSS will also put particular emphasis on establishing an end-to-end circular business model. In this context, the Company aims to enable 80% of its products to become circular by 2030.

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