At HUGO BOSS, we look back on a successful third quarter, marked by double-digit top- and bottom-line improvements. In an increasingly challenging market environment, we once again claimed our position and gained further market shares globally, driven by our several brand, product, and distribution initiatives. Building on our strong brand momentum, we are well on track to achieve our financial targets and make 2023 another record year for HUGO BOSS.
3,651
EUR million sales
EUR million sales
2022
335
EUR million EBIT
EUR million EBIT
2022
16,930
Employees
Employees
2022
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.
Upcoming events
Dec | 05 | 2023
| New York City
Dec | 06 | 2023
| New York City
Mar | 07 | 2024
May | 02 | 2024
