Hugo Boss is performing well. In fact, at the end of 2017 the German luxury fashion brand’s revenues reached 2,733 billion euros (+1,5% and +3% at fixed rates of exchange, compared to 2016), slightly beyond the company’s expectations; net profits amounted to 231 million euros (that is, +19% compared to the year before). Following such accomplishments, which also derive from the company’s reorganization, the German brand has been focusing, most of all, on the premium segment. “Since we achieved our goals over 2017, this year we are going to strive hard to make our growth profitable and sustainable”, commented Mark Langer, chief executive officer of Hugo Boss, who’s now working to replace Jason Wu, their former fashion designer, who left the brand, in mid-February, after a five-year-long collaboration. Analysts forecast that in 2018 sales will approximately increase by 2%, and net profits will go up by 12%. Hugo Boss are currently running a footwear manufacturing plant in Morrovalle, in the Marche, and own 439 stores. Their business performances have been positive in all markets, except for The USA (they have been slightly dropping here): +6% in China, +2% in Europe, +1% in the Americas.
Premium is rewarding, as Hugo Boss business goes better than expected, in 2017. Who is going to be their new fashion designer?
