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Hugo Boss sees its momentum continue: after record sales in 2022, the German fashion group raised its sales by another 21 % in the first half of 2023.
Strategic exercise
In the first half of the year, Hugo Boss posted sales of 1.9 billion euros – 21 % more than 2022 which in itself was already a record year. Net profit went up 35 % to 116 million euros. The company is growing fast in all markets, with both men’s and women’s fashion.
The strong results are the fruit of a strategic exercise the company embarked on in 2021. The brand is putting a stronger focus on casual clothing with customised collections by age group, and is also going full digital – and that is clearly paying off.
Earlier this year, CEO Daniel Grieder still expected growth to slow down, but so far there is little sign of that. That is why the company is now raising its expectations for the full year: sales should rise between 12 and 15 % and exceed the four billion euro mark for the first time. By 2025, Hugo Boss aims to exceed five billion euros in sales.
