HUGO BOSS has announced its new “CLAIM 5” strategy to boost sales. Over the next five years, the Company is fully committed to strongly accelerating top-line growth, claiming its position in consumers’ minds, and winning market share for its strong brands BOSS and HUGO.
The CLAIM 1: Boost Brands
Claim 1 is to elevate brand relevance enormously; the Company is refreshing BOSS and HUGO. To become the leading power brand, it is ambitious to achieve around EUR 2.6 billion in BOSS Menswear sales and double BOSS Womenswear sales to around EUR 400 million by 2025. This will be realized by enhancing the overall perception of BOSS as a lifestyle brand, increasing brand relevance, and strongly focusing on digital.
The CLAIM 2: Product is King
CLAIM 2 is to strongly invest in its price-value proposition to ensure premium quality and high levels of innovation and sustainability. In doing so, the BOSS brand will foster its unique positioning in the premium/affordable luxury segment. The HUGO strategy builds on a broad range of commercial and contemporary pieces reflecting the authentic and unconventional HUGO style to become the first touchpoint for younger consumers.
The CLAIM 3: Lead in Digital
Digital is critical in ensuring a personalized omnichannel consumer journey. It also enables HUGO BOSS to deliver on its vision to become the premium tech-driven fashion platform worldwide. The 2025 strategy, therefore, includes a strong commitment to further digitalizing the Company’s business activities along the entire value chain, from trend detection and digital product development to AI-enabled pricing capabilities and the global rollout of digital showrooms.
The CLAIM 4: Rebalance Omnichannel
CLIAM 2 translates brand power into all consumer touchpoints; HUGO BOSS will rebalance its distribution footprint and strongly accelerate its omnichannel activities in the years to come.
The CLAIM 5: Organize for Growth
HUGO BOSS will drive growth across all geographies while further balancing its global footprint. In Asia/Pacific, revenues are growing at a low-teens compound annual growth rate (CAGR 2019-2025).
