“Considerable sales and profit increases underline the success of our strategy in the last years,” says Claus-Dietrich Lahrs, CEO of HUGO BOSS AG. “The initiatives introduced today develop this strategy further and secure profitable growth. We will elevate our core brand in both menswear and womenswear. In doing so, we offer customers an attractive brand experience across all touch points.”
Looking forward over the next few years, HUGO BOSS will strive to achieve average sales growth in the high-single digits, despite the increasingly challenging macro-economic and industry-specific environment. The growth plan envisages an increase in the operating margin to 25%.
HUGO BOSS has launched a series of growth initiatives to achieve these goals. The BOSS core brand is to be significantly upgraded, with the aim of gaining a 20% share of sales in the luxury segment. BOSS will reinforce its range of high-quality clothing and sportswear and hone the focus of its brand communications. This refined positioning will mean that the core brand will in future be offered solely in a monobrand environment, primarily through the Group's own stores.
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