The full 2023 year saw sales for Boss Menswear grow by 16% to €3.3 billion, while Boss Womenswear was up 24% to €288 million and Hugo grew 22% to €653 million. By region, EMEA was up 13% to €2.6 billion while the Americas grew 23% to €955 million and Asia/Pacific was up by 32% to €576 million.

By distribution channel, brick-and-mortar retail grew 15% to €2.3 billion, brick-and-mortar wholesale had growth of 18% to €1.03 billion and digital was up 26% to €798 million. Finally, licenses was up 12% to €104 million.

EBITDA for the year totalled €752 million, up 11%, with a margin down to 17.9%. Gross profit grew 14% to €2.6 billion with a margin down to 61.5%.

Fourth quarter sales were up 13% on a currency-adjusted basis to €1.18 billion. By brand, Boss Menswear saw an increase of 13% currency-adjusted to €914 million, while Boss Womenswear grew by 14% to €81 million and Hugo was up by 14% to €182 million.

Regionally, EMEA had year-on-year growth of 7% to €680 million, the Americas were up by 18% to €295 million and Asia/Pacific increased by 33% to €172 million.

Looking at the distribution channels, Hugo Boss saw brick-and-mortar retail sales grow by 12% to €675 million while brick-and-mortar wholesale was up by 6% to €225 million. Digital sales had a currency-adjusted increase of 25% to €236 million. The licenses segment had an increase of 15% to €30 million.

The company ended the quarter with an EBITDA of €219 million, up 12%, and an EBITDA margin up to 18.6%. Gross profit was up 10% to €724 million with a margin up to 61.5%.

Looking forward to the full 2024 fiscal year, Hugo Boss expects sales to grow by 3-4% with a particularly strong result in Asia/Pacific.

CEO Daniel Grieder said: “2023 was another year of remarkable success for Hugo Boss. The second full year of executing our Claim 5 growth strategy was characterised by strong achievements across all business areas and has accelerated the momentum of our two brands, Boss and Hugo. These successes prove that with Claim 5 we have the right strategy in place to unlock the full potential of our brands.”