Sales Performance

HUGO BOSS recorded solid top-line improvements in fiscal year 2024 amid a challenging macroeconomic and geopolitical backdrop. Overall, currency-adjusted Group sales came in 3% above the prior-year level, amounting to EUR 4,307 million (2023: EUR 4,197 million), marking another year of record sales for HUGO BOSS. In Group currency, revenues also expanded by 3%, as currencies had a broadly neutral impact. Growth in 2024 was supported by sales improvements across both our brands, BOSS and HUGO, as well as most regions and distribution channels.

Sales by brand

In 2024, both our brands continued to drive important brand and product initiatives as part of our “CLAIM 5” strategy. The latest BOSS and HUGO collections were once again well received by consumers and wholesale partners alike. Consequently, currency-adjusted revenues for both BOSS Menswear and BOSS Womenswear came in 3% above the prior-year level. This performance was supported by star-studded 360-degree brand campaigns, the launch of a long-term partnership with David Beckham, and the BOSS Spring/Summer 2025 Fashion Show in Milan. At HUGO, currency-adjusted sales expanded by 5%, as momentum was fueled by the successful launch of its new, denim-focused brand line HUGO Blue as well as compelling capsule collections such as HUGO x Racing Bulls. Group Strategy

Sales by region

From a geographical perspective, growth in 2024 varied across regions. In EMEA, currency-adjusted revenues increased by 3%, supported by solid sales improvements in Germany and double-digit growth in emerging markets. In the Americas, revenues were up 8% currency-adjusted with all markets contributing to growth, including a high single-digit uptick in the important U.S. market. Sales in Asia/Pacific, on the other hand, remained 2% below the prior-year level. While HUGO BOSS posted high single-digit growth in Southeast Asia & Pacific, sales in China remained below the prior-year level, reflecting overall muted local consumer demand. Earnings Development, Sales and Earnings Development of the Business Segments

Sales by distribution channel

From a channel perspective, growth in 2024 was driven by brick-and-mortar wholesale and the Group’s digital business, while currency-adjusted revenues in brick-and-mortar retail (including freestanding stores, shop-in-shops, and outlets) remained on par with the prior-year level. In this channel, an increase in sales per transaction was largely offset by a decline in store traffic, reflecting muted consumer sentiment across key markets, first and foremost China. Currency-adjusted sales in brick-and-mortar wholesale expanded by 8% in 2024, reflecting robust demand for BOSS and HUGO among wholesale partners. While this enabled both brands to further improve visibility and penetration at key department stores, we also successfully expanded our global franchise business across select markets. At the same time, also the Group’s digital business successfully continued its growth trajectory with currency-adjusted sales up 6%, reflecting further improvements at hugoboss.com as well as an increase in digital sales generated with partners. Overall, total digital sales thus expanded to 20% of Group sales in fiscal 2024 (2023: 19%). Sales in the license business increased 4% currency-adjusted, supported by particularly strong improvements in the eyewear business. Consumer Touchpoints

Network of own retail stores

In fiscal year 2024, the number of own freestanding retail stores slightly increased to 500 (2023: 489), reflecting the selective expansion of our global retail footprint in key markets, including the U.S. and China. Consumer Touchpoints

A total of 37 BOSS stores were newly opened across all three regions, including halo stores in Düsseldorf and Shanghai. At the same time, we also added eight HUGO stores to our network, including three stores in Warsaw as part of a franchise takeover. On the other hand, 34 stores across EMEA and Asia/Pacific were closed in 2024. Besides stores with expiring leases, this also includes twelve stores in Russia, whose operations had already been suspended since March 2022 and which were sold to a wholesale partner in July 2024.

Including shop-in-shops and outlets, the total number of own retail points of sale increased to 1,532 as of December 31, 2024 (2023: 1,418). Besides the slight increase in freestanding retail stores, this development primarily reflects the further expansion of our shop-in-shop business to strengthen our brands’ presence with key retail partners, first and foremost in the Americas.

The total selling space of our own retail business increased by 5%, amounting to around 195,000 sq m at year-end (December 31, 2023: around 186,000 sq m). At the same time, brick-and-mortar sales productivity decreased by 8% to a level of around EUR 11,400 per sq m, mainly reflecting the lower traffic in brick-and-mortar retail (2023: around EUR 12,400 per sq m).