Hugo Boss China underpins brand’s growth
An upward trend for Hugo Boss China contributed to positive final-quarter sales growth for the German luxury fashion house.
Online growth was particularly strong, preliminary figures show.
Currency-adjusted group sales were up 5 per cent for the quarter, with comparative store sales up 7 per cent year on year, while online sales growth soared by 42 per cent.
For the fiscal year, currency-adjusted sales rose 3 per cent.
CEO Mark Langer says the company achieved its goals for the year, with the final quarter being “particularly pleasing”.
“With the launch of the spring/summer collection, the realignment of Boss and Hugo is now fully visible for the first time,” he says. “Our online business is on track, too, and will make a sustainable contribution toward the growth of the company.”
Based on preliminary figures, final-quarter group sales reached €735 million (US$901.5 million), attributed mainly to strong sales development in the group’s own retail outlets.
Sales for the full year reached €2.7 billion in the full year, corresponding to 1 per cent growth in the reporting currency, but 3 per cent adjusted for currency effects.
Subject to year-end closing procedures, the group expects EBITDA will be largely the same as in the previous year, €493 million. The increase in sales was balanced by investments in repositioning the Boss and Hugo brands, the digital transformation of the business model and negative currency effects.
Final results will be published in early March.