These sales were up by 27% year-on-year, and the company reported broad-based growth for both of its brands, all regions and all consumer touchpoints.
This marks the first time in the group’s history that it has exceeded the threshold of €3 billion. EBIT for the year was up by 47% to €335 million, with EBIT margin up to 9.2% while gross margin remained stable at 61.8%.
Hugo Boss noted that the 2022 fiscal year was an important milestone in its “CLAIM 5 “ strategy and was the first full year of successful strategy execution. This strategy continues in 2023 and the brand expects group sales to increase at a mid-single-digit percentage rate this fiscal year while EBIT should increase by 5-12%.
“2022 was an outstanding year for Hugo Boss,” said CEO Daniel Grieder. “Thanks to the rigorous execution of our ‘CLAIM 5’ strategy, we made 2022 a record year for our company with broad-based momentum across brands, regions, and consumer touchpoints. Most importantly, our bold branding refresh impressively fuelled brand power of Boss and Hugo. In achieving this, we have laid a strong foundation to further leverage the great potential of Hugo Boss going forward.”