First Quarter 2022 Results

Daniel Grieder – CEO
We have made a kickstart to fiscal year 2022, with record first quarter sales. Supported by our bold branding refresh, momentum for BOSS and HUGO has accelerated around the globe. Together with the ongoing rigorous execution of our "CLAIM 5" strategy, this provides us with strong tailwinds to achieve record sales in fiscal year 2022.
Daniel Grieder

Latest information

COO HEIKO SCHÄFER LEAVES HUGO BOSS

May 2022 – Chief Operating Officer Heiko Schäfer will leave the Managing Board of HUGO BOSS AG with effect as of May 31, 2022, to pursue a new professional assignment outside the Group. Heiko Schäfer is responsible for Global Product Development and Sourcing, Own Manufacturing, and Logistics, as well as Sustainability. Under his leadership, HUGO BOSS has made important strides in digitalizing and streamlining the company’s product development and logistics, realigning the Group’s own manufacturing in the context of the casualization trend, and further strengthening its sustainability efforts.

HUGO BOSS PUBLISHES SUSTAINABILITY REPORT 2021

May 2022 - Sustainability is firmly embedded in our company, as illustrated by the company's ninth Sustainability Report. It shows the successes we have achieved in the past year and where our journey will take us.

Strategic partnership with HeiQ AeoniQ

February 2022 - HUGO BOSS has successfully entered into a long-term, strategic partnership with HeiQ AeoniQ LLC – a fully owned subsidiary of Swiss innovator HeiQ Plc – ushering in a new era in promoting sustainability within the fashion industry. A core element of this partnership is a USD 5 million equity investment made by HUGO BOSS – the first of its kind as part of the Company’s “CLAIM 5” growth strategy.

2,786
EUR million sales
EUR million sales
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2021
551
Freestanding Stores
Freestanding Stores
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2021
14,041
Employees
Employees
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2021

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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