Hugo Boss ups sales target as it confirms expansion plans

16th June 2023 | Phoebe Dobke

Hugo Boss has increased its 2025 sales target to £4.2bn as it confirms plans to “expand its global footprint” in its latest update.

Earlier today the luxury fashion brand released an update on its “Claim 5” growth strategy plan which was launched in August 2021, in order to refresh the brand for younger consumers.

Hugo Boss annouced it had achieved “significant progress” across all five of its strategic targets; to boost brands, prioritise products, lead in digital, drive omnichannel and establish strong operations for future growth.

As well as raising its sales target, the retailer said it will focus on “the further roll-out of the latest and more digitalised Boss and Hugo store concepts”, as well as driving momentum “across all geographies”.

Hugo Boss chief executive Daniel Grieder said: “With ‘Claim 5’ we have introduced the right strategy at the right time. Thanks to the dedication and passion of our teams, we celebrated an impressive comeback and delivered exceptional results.

“This will enable us to reach our mid-term financial ambition of £3.4bn already this year, two years ahead of plan. And we have everything needed to continue our success story.

“That is why today we are increasing our top and bottom-line ambition. We aim to achieve revenues of £4.3bn and an EBIT margin of at least 12% by 2025.”


Looking for more retail news? you might find these interesting