The Metzingen-based fashion group Hugo Boss also wants to become even more relevant to younger customer groups. “These include above all the Millennials, i.e. the 25 to 40 year olds, as well as Generation Z, i.e. the under 25 year olds,” said CEO Daniel Grieder at the Annual General Meeting on Tuesday, according to a text that had been distributed in advance. Hugo Boss should be back become one of the world’s top 100 brands, with sales to increase to EUR 4 billion by 2025.
In addition, the company wants to sell as much women’s fashion as men’s fashion in the long term. “The potential with women’s fashion is enormous, women buy more clothing than men,” said Grieder of the “Stuttgarter Zeitung” and the “Stuttgarter Nachrichten”. In a first step, sales of women’s fashion should be doubled to 400 million euros by 2025.
The fashion group started the year with significant growth. Sales improved by 55 percent to 772 million euros. In the same quarter of the previous year, business was still severely affected by the restrictions in connection with the pandemic. (dpa)