At its investor day in Hong Kong, Hugo Boss AG Tuesday confirmed its goal of achieving the planned sales of 3 billion euros in 2015. The Managing Board spilled the beans on the progress in medium-term business development.
Hugo Boss management expects to generate over 60 percent of its sales in 2015 by selling collections directly to consumers. This goal is to be helped by the new retail locations and boosted by a faster than expected integration of wholesale floor space.
The German fashion retailer confirmed as well its aim of continuously improving profitability, even as investments have suppressed margin progress in the last two years, reported Reuters.
Addressing the company´s shareholders in Asia, CEO at Hugo Boss Claus-Dietrich Lahrs said: "In the last few years we have strengthened Hugo Boss as a global brand and geared it more directly to consumers. Today, customers experience our brand world as even more high value. It is therefore the right decision to invest in the strength of our brands and distribution, thereby creating very good long-term growth prospects for the company."
The company will keep its network expanding by the time it intensifies the investments in brand communication to accelerate growth and achieve a 25 percent EBITDA margin.