December 6, 2023

News Collective

Complete New Zealand News World

Hugo Boss is again growing by 17% and increasing its profits by 24% through September

Hugo Boss is again growing by 17% and increasing its profits by 24% through September

Hugo Boss, on the rise in the first nine months. The German fashion distributor ended the first nine months of the year (the period ending in September) with an increase in sales and an increase in profits again, thanks to the strengthening of its growth strategy. Claim 5The company announced on Tuesday.

The company’s sales amounted to 3,021 million eurosAn increase of 17% over what it was in the first nine months of 2022, which is the same growth recorded in the second quarter of the current year. In terms of business divisions, the division that achieved the greatest growth during this period was the women’s division at Boss, with an increase in sales volume of 25%, reaching 207 million euros.

However, the men’s division still represents the majority of global sales, amounting to €2,342 million, an increase of 15%. Hugo alone increased its sales by 24%, representing sales of €472 million. The company’s profits during the period amounted to 173 million euros, an increase of 24%, compared to the first nine months of 2022.

In terms of markets, the company maintains most of its business in Europe, Africa and the Middle East, having generated €1,882 million in that period, an increase of 14%. In the Americas, Hugo Boss achieved the largest growth in the first nine monthsWith sales increasing by 24% to 659 million euros. Asia, for its part, achieved sales of 330 million euros for the group, 23% more.

See also  Helping businesses grow with new lead generation tools, AI features, and CRM partnerships.

Only in the last three months of the year, the company had revenues of 1,027 million euros, a 10% growth compared to the third quarter of 2022. Hugo Boss’s net result in that period amounted to 63 million euros, compared to 58 million euros. Euros earned by the company in the same period last year.

The company is immersed in strategy Claim 5Since August 2021 With the aim of reaching sales of 5,000 million euros in 2025. The company’s plan is based on five pillars: strengthening the importance of the group’s two brands, focusing growth on the product, strengthening the company’s digital environment, revamping its omni-channel retail network and enhancing growth in all its markets.

With this strategy, Boss could cost €3 billion by 2025. For its part, Hugo’s sales will reach €800 million and the company’s licensing business (which includes watches, optics and fragrances) will reach €200 million, according to Hugo Boss. Forecasting. However, the company is cautious and stresses its awareness of “geopolitical tensions,” referring to the war conflict between Israel and Gaza..