- Group pursues two-brand strategy centred around BOSS and HUGO
- Focus on strategic growth drivers to secure future sales growth
- Strategy aims at sustainable profitable growth
HUGO BOSS has the vision of being the most desirable fashion and lifestyle brand in the premium segment of the global apparel market. The Group is convinced that the desirability of its two brands, BOSS and HUGO, is the most important factor for its long-term success. The Group strategy is therefore fully focused on this objective, taking into account past as well as current changes in the operating environment and in customer expectations.
Growth in the premium apparel industry, particularly in the area of businesswear, has slowed in recent years. At the same time, the casualwear and athleisurewear segments as well as the contemporary fashion segment of the global apparel market have been recording above-average growth in recent years. Customer expectations have also changed: Consumers are increasingly using digital channels to get inspired and discuss current trends and the offerings of individual brands. In particular, customers are increasingly closely connected with brands and influencers through social media. They demand a noticeably faster reflection of current trends in the collections, and their availability at any time – both in brick-and-mortar and online retail. They also expect that both distribution channels will complement each other as seamlessly as possible and that the shopping experience will be characterized by a more individual customer approach and personalized services. Customer demand for sustainable product offerings is also growing.