The fashion company Hugo Boss has implemented a new strategy and returned to sales growth – now it is planning acquisitions. “If we as a company want to grow to a different size, then in the long term this would also be possible through acquisitions, for example. And we are keeping the option open,” said CEO Daniel Grieder to the “Süddeutsche Zeitung”. “We have always said that we don’t want to overuse the brand; growth also has its limits.”
“There’s a lot going on in the industry at the moment. It’s a challenging time for many brands,” said Grieder. “If something comes up, we are basically open.” Regarding the problems faced by many department store groups, especially in Germany, Grieder said: “It won’t go unnoticed by us. But business won’t necessarily be lost as a result.” It shifts. People then bought more online or in Boss stores. He was satisfied with the renovation: “Three years ago, Boss and Hugo were hardly relevant anymore, I have to say. Today we are back on stage.”
Last year, Hugo Boss AG decoupled itself from the sluggish consumer sentiment and significantly increased sales and operating profit. In 2023, revenues climbed by 15 percent to a record level of 4.2 billion euros, and EBIT improved by 22 percent to 410 million euros.
