Hugo Boss: moderate growth in 2024

Hugo Boss posted a slight increase in sales in 2024, with record sales of 4.3 billion euros. However, the outlook for 2025 remains uncertain.

Sales up despite falling profitability

The year 2024 marks 3% growth for the brand, driven by its Claim 5 expansion plan and a repositioning towards younger customers. This strategy enabled the German company to achieve sales of 4.3 billion euros, thanks in particular to a dynamic fourth quarter (+6%). However, profitability eroded: EBIT came in at 361 million euros, down sharply from 410 million euros in 2023.

In terms of segmentation, Hugo Boss Menswear and Hugo Boss Womenswear grew equally, by 3%. Men’s ready-to-wear dominated sales with 3.33 billion euros, while the women’s range reached 297 million euros.

Strategic development supported by collaboration and innovation

In 2024, the brand strengthened its appeal with a number of landmark initiatives. These include a partnership with David Beckham, the launch of the HUGO Blue denim line and the development of the HUGO BOSS XP loyalty program. These initiatives are aimed at attracting younger customers and strengthening relationships with existing consumers.

Daniel Grieder, the brand’s CEO, welcomed these strategic advances, saying that the brand had been able to “inspire and retain its customers” while working to improve profitability in its various divisions: operations, marketing, sales and administration.

Contrasting performances by region

Sales trends vary from market to market:

• EMEA (Europe, Middle East, Africa): +2%, thanks to an improvement in Germany and strong growth in emerging markets.
• United States: +13% in the fourth quarter, confirming a dynamic market.
• Asia-Pacific: down 2%, with sales totaling 553 million euros.

Uncertain forecasts for 2025

Despite these encouraging results, Hugo Boss is taking a cautious approach to 2025. The brand forecasts sales growth of between -2% and +2%, with expected sales of between 4.2 and 4.4 billion euros. The unstable economic and geopolitical context could weigh on consumption and slow the current momentum.

Will Hugo Boss be able to overcome these challenges and continue its growth in 2025? Find out in the coming months.

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