Hugo Boss Group reports strong Q3 2022 figures
The Hugo Boss Group publishes its third quarter figures and reports record sales at €933 million, up +27% on 2019. The Asian market is largely to be credited for this strong increase (+33%).
By Eva Morletto07 novembre 2022
The results are positive in all geographical areas: in Europe Hugo Boss posted +17% at the end of the quarter, while the United States accounted for a +18% increase in sales. Among the reasons for this success is certainly the desire to revitalise the German group's brands - essentially two brands: Boss and Hugo- through a real rejuvenation programme, aimed at attracting a wider and younger clientele.
The strategy, called "CLAIM 5", covers the online market as well as retail. Boss men's fashion saw its sales increase by 20%, while women's fashion went even further, posting a 30% increase.
The group invested heavily in communication and marketing campaigns - up to +39% compared to the budgets normally allocated to these activities - achieving customer loyalty and the creation of a solid community of buyers who follow the group's houses on social networks and e-commerce platforms.
A significant example of this new image was the launch of the #BeYourOwnBoss campaign on Instagram, which saw the participation of several exceptional muses, including model Kendall Jenner and rapper Future. As for the Hugo brand, which is more accessible and aimed at a younger clientele, massive campaigns were conducted on TikTok.
Forecasts for the year 2022 are even more optimistic, since the group is forecasting a turnover of between 3.5 and 3.6 billion euros at the end of December.
The redesign has also affected the design, as the logos have been reworked. The respective targets: the under-25 generation for Hugo, and the Millennials (between 25 and 40) for the Boss brand. These initiatives were conceived by Daniel Grieder, CEO of the group for a little over a year. Daniel Grieder's goal is to reach a turnover of 4 billion euros by 2025, a target that is now easily attainable.
Share the post
Ulysse Nardin strengthens its environmental commitments
Swiss watch manufacturer Ulysse Nardin is collaborating with Norwegian outdoor sportswear brand Norrøna to launch the new DIVER NORRØNA Arctic Night, a timepiece made entirely of sustainable materials. The watch brand also named a new ambassador, Norwegian Polar explorer Børge Ousland.
Be notified of the latest publications and analyses