Hugo Boss reports sharp drop in profits

Revenue and profits were under pressure at Hugo Boss in the first quarter. This is due not only to challenging market conditions but also to a strategic realignment within the fashion company.

Revenue decline across all markets

In the first three months of the year, Hugo Boss saw revenue drop by 9% to 905 million euros. Excluding currency effects, the decline was 6%. The flagship Boss brand saw revenue drop by 7% to 779 million euros, while the Hugo label fell by 23% to 125 million euros. Hugo Boss is experiencing revenue losses across all markets: a 10% decline in the EMEA region, 11% in the Americas, and 6% in the Asia-Pacific region.