The German retailer anticipates sales in 2022 to increase between 20 percent and 25 percent to hit a new “record level” between €3.3 billion and €3.5 billion ($3.3 billion and $3.5 billion), the company said in a regulatory filing Wednesday.
The brand had previously accounted for sales between €3.1 billion and €3.2 billion this year.
The brand credited its branding refresh — which saw the launch of its individual “Boss” and “Hugo” lines to distinguish between its higher-end and more junior product offerings — for a 34 increase in second-quarter sales compared to the same period in 2021.
Buzzy partnerships such as Boss’ tie-up with viral TikTok star Khaby Lame, and Hugo’s collaboration with streetwear line Mr. Bathing Ape also helped to drive excitement in the brand among new audiences.”
[Hugo Boss’] branding refresh resonates extremely well with our customers around the globe and will further drive brand momentum,” said chief executive officer Daniel Grieder in a company statement. Grieder joined the brand from Tommy Hilfiger in June 2021.
Learn more:
The Strategy Behind The Hugo Boss Rebrand
