In the past fiscal year, German fashion brand Hugo Boss managed a 3 % turnover increase. It says its restructuring paid off and it now wants to speed up its growth in 2018.
Target reached
Hugo Boss’s 2017 turnover reached 2.733 billion euro, which is a 1 % increase, but a 3 % increase excluding exchange rate fluctuations. Operational profit remained stable at 491 million euro, because of company investments. The strong euro also negatively impacted its profit.
“We achieved what we set out to do in 2017”, says Mark Langer, CEO. “This year, we want to step up the pace of growth. The new BOSS and HUGO collections are being very well received by the market. Our strategic realignment is taking effect. Thus we are on the right track towards sustainable and profitable growth.”
For the upcoming year, Hugo Boss expects further growth, but it still believes its profit will stabilize because of further investments. It invested 128 million euro last year, but it will increase that to 170 to 190 million euro for the current year.
