Hugo Boss, the German fashion company, has continued its double-digit growth trajectory, revealing that group sales were up by 15 per cent to € 1,027 million during the third quarter.

While BOSS Womenswear saw a 24 per cent gain in revenue, BOSS Menswear saw a 12 per cent increase in currency-adjusted revenues year over year. Currency-adjusted revenues at HUGO increased by a remarkable 25 per cent.

Currency-adjusted, the group’s digital channel had a 25 per cent growth in customer touchpoints. The retail industry in physical stores saw growth of 8 per cent. Furthermore, brick-and-mortar wholesale sales saw a 21 per cent increase.

In comparison to the previous year, Hugo Boss’ operating profit climbed by 12 per cent to € 103 million from € 92 million. The EBIT margin rose 20 basis points to 10 per cent as a result.

Daniel Grieder, Chief Executive Officer at Hugo Boss, commented, “At Hugo Boss, we look back on a successful third quarter, marked by double-digit top- and bottom-line improvements.”

Given the strong financial results of the third quarter, Hugo Boss reaffirmed its fiscal year 2023 outlook, which had already been revised up twice in the year. It continues to be cautious in light of the persistently high levels of macroeconomic uncertainty and geopolitical concerns.

The company projects that sales would rise by 12 per cent to 15 per cent in 2023, hitting a new high of € 4.1 billion to € 4.2 billion. According to its ongoing projections, EBIT will rise by 20 per cent to 25 per cent in 2023, reaching a total of € 400 million to € 420 million.