Hugo Boss news and archive

Boss launches ski range as luxury brands eye growing winter sports market

The luxury ski apparel market is witnessing renewed attention as Boss becomes the latest premium brand to expand its winter sports offering, signalling growing confidence in the category's commercial potential. The German luxury house has unveiled a comprehensive ski capsule collection, marking a strategic push into a segment that industry...

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Hugo Boss Q3 sales remain flat, maintains 2024 outlook

In the third quarter, Hugo Boss managed to increase currency-adjusted sales by 1 percent in a challenging market environment. In group currency, revenues amounted to 1,029 million euros in the quarter, slightly above the prior-year level. Supported by the third-quarter performance, the company’s currency-adjusted sales rose 2 percent and in...

Business

Hugo Boss Foundation invests in Indian cotton fibre project

The Hugo Boss Foundation has signed a partnership with the Grameena Vikas Kendram Society of Rural Development (GVK Society), an Indian grass-roots non-profit organisation with the mission to build regenerative, circular and socially inclusive agricultural value chains that optimise value for smallholder farmers and indigenous communities. This...

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Hugo Boss and Movado Group extend partnership to 2031

Watchmaker Movado Group has announced the extension of its licensing agreement with German fashion brand Hugo Boss, expanding the duo’s partnership until December 31, 2024. Included in the agreement is an option for Movado subsidiary, MGI Luxury Group S.A., to potentially further prolong the agreement for an additional five years, subject to...

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Frasers Group plans to increase stake in Hugo Boss again

British retail group Frasers Group Plc would like to increase its stake in Hugo Boss AG again, according to an entry at the Federal Cartel Office. It is not yet known by how many percent Frasers intends to increase its shares in the Metzingen-based fashion retailer. The British company currently holds the shares, which have been increasing and...

Business

Frasers Group increases stake in Hugo Boss

British retail group Frasers Group Plc has once again increased its stake in the German fashion retailer Hugo Boss AG. The Frasers Group "exceeded the threshold of 10 percent of the voting rights attached to shares in Hugo Boss AG on July 17, 2024 and the threshold of 15 percent on July 22, 2024" and "currently directly holds over 15 percent of...

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Hugo Boss sells Russian business to Stockmann

German fashion brand Hugo Boss has sold its business in Russia to its wholesale partner Stockmann. A purchase price was not disclosed, according to reporting news platform Reuters, however it is known that Russia requires foreign companies to sell assets at a discount of at least 50 percent. In its 2023 annual report, Hugo Boss valued the assets...

Business

Hugo Boss sells Russian business to Stockmann

Hugo Boss sells its business in Russia to its wholesale partner Stockmann. A purchase price was not disclosed, as the Reuters reported on Monday. However, it is known that Russia requires foreign companies to sell assets at a discount of at least 50 percent. In its 2023 annual report, Hugo Boss valued the assets for sale in Russia at 27 million...

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Weak consumer demand impacts Hugo Boss results

In the second quarter of 2024, Hugo Boss sales reached 1,015 million euros, representing a decline of 1 percent, both currency adjusted and in group currency. As announced on July 15, operating profit (EBIT) decreased by 42 percent to 70 million euros in the second quarter, reflecting lower revenues and higher operating expenses. The company...

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Hugo Boss lowers full year outlook after challenging Q2

Hugo Boss sales decreased 1 percent currency-adjusted to 1,015 million euros in the second quarter. The company attributed the decline to challenging macroeconomic and geopolitical conditions weighing on global consumer demand. Lowering its full-year outlook, the company said it expects sales of around 4.20 billion euros to 4.35 billion euros,...

Business

Frasers Group ups Hugo Boss stake to 415 million pounds

Frasers Group has once again increased its stake in German premium brand Hugo Boss, for which it now holds common stocks valued at around 415 million pounds (490 million euros). The British retail giant has increased common stock to over 5.6 million shares, representing 7.99 percent of Hugo Boss’ total share capital. It further shifted its...

Business

Frasers Group ups Hugo Boss stake to 305 million pounds

Frasers Group has once again upped its stake in Hugo Boss, this time bringing its holdings in the German fashion brand to the equivalent of 305 million pounds. The British retail conglomerate now holds 2.47 percent of Hugo Boss’ total share capital and 13.92 percent through the sale of put options. This comes as a U-turn on Frasers’ previous...