Full Year 2021 Results

2021 was a highly successful year for HUGO BOSS. We strongly accelerated our sales and earnings development throughout the year and also made first great strides in executing our new ‘CLAIM 5’ growth strategy. The upcoming weeks will see further important milestones, with the introduction of our new branding and the launch of the biggest BOSS and HUGO marketing campaigns in our Company’s history. Based on these exciting initiatives, we will further drive brand relevancy in 2022.
Daniel Grieder

Latest information

HUGO BOSS releases star-studded campaigns for BOSS and HUGO

January 2022 – HUGO BOSS launches two simultaneous star-studded global campaigns for its brands BOSS and HUGO. The release is the first visual representation of this historic brand refresh. After almost 50 years, HUGO BOSS is introducing a new logo for its core brand, BOSS, along with a true 360-degree rebrand across all consumer touchpoints. The HUGO brand also sports a new look for the first time since its last logo adjustment in the early 1990s.

BOSS announces partnership with Matteo Berrettini

January 2022 – BOSS is proud to announce a long-term partnership and the launch of a standalone capsule collection, co-created by Italian professional tennis player, Matteo Berrettini. The multi-year deal will see BOSS and Matteo Berrettini become official partners, with Berrettini being introduced as a Global Brand Ambassador for BOSS, on and off the court. He will also appear in BOSS global campaigns starting Spring/Summer 2022.

Syndicated loan with sustainability component

November 2021 - HUGO BOSS has secured a revolving syndicated loan with a sustainability component for the first time. This means that the interest rate for the EUR 600 million loan is also linked to the fulfillment of clearly defined sustainability criteria. The syndicated loan was considerably oversubscribed and aims at providing the company with additional financial flexibility to ensure the successful execution of its ‘CLAIM 5’ growth strategy.

1,946
EUR million sales
EUR million sales
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2020
445
Freestanding Stores
Freestanding Stores
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2020
13,759
Employees
Employees
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2020

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 collaborations – are set to create excitement among consumers and unleash the full potential of BOSS and HUGO.

Growth strategy ‘CLAIM 5’

The growth strategy ‘CLAIM 5’ aims at accelerating growth across all brands, touchpoints, and geographies. Until 2025, the Company is fully committed to double sales to EUR 4 billion, claim its position in the consumers’ minds, and win 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 returning to a strong EBIT margin of around 12% by 2025. Important investments into the business will be compensated for by leveraging operating overheads as well as strong efficiency gains to be realized by optimizing the Company’s global store network.

Above-average free cash flow generation

Driven by the significant top- and bottom-line growth, HUGO BOSS is confident to generate cumulative free cash flow of around EUR 2 billion between now and 2025. Improvements in trade net working capital and the smart and efficient use of capital expenditure will provide further support to free cash flow development. A significant portion of cumulative free cash flow will be distributed to shareholders through regular dividend payouts. 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 the aim for climate neutrality within its own area of responsibility by 2030 and throughout the entire value chain by 2045. 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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