First Quarter 2023 Results

Daniel Grieder – CEO
We look back on an excellent start to the year, as we further accelerated brand momentum around the globe. Following our strong performance in the first quarter, we remain all the more confident in the continued success of ‘CLAIM 5.’ We will make 2023 yet another record-breaking year for our Company, as we aim to achieve our mid-term sales target of EUR 4 billion already this year, thus significantly earlier than expected.
Daniel Grieder



May 2023 - Following the successful brand refresh in 2022, HUGO BOSS is expanding its portfolio with HUGO BLUE, a new line under the HUGO brand. Set to launch with a Summer collection in 2024, HUGO BLUE is especially dedicated to denim and will follow the brand’s easy and unconventional look and feel.


May 2023 - HUGO BOSS just published its 10th Sustainability Report. Sustainability represents an important strategic foundation for our Company and is thus an integral part of all corporate activities. The report addresses the many challenges related to sustainability with ambitious goals and effective measures, true to our mission "We Love Fashion, We Change Fashion."


March 2023 - 2022 was an outstanding year for HUGO BOSS. Thanks to the rigorous execution of our ‘CLAIM 5’ strategy, we made it a record year for our Company. Further details on our results and our outlook for 2023 can be found in our interactive HUGO BOSS Annual Report.

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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 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.

Further information


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