Home » Hugo Boss aims to double revenues to 4 billion by 2025

Hugo Boss aims to double revenues to 4 billion by 2025

by admin

Claim 5 is the name of the growth strategy just presented in the Metzinger headquarters by Daniel Grieder (pictured below), CEO of Hugo Boss a few months ago, the goal is double sales to € 4 billion by 2025. “Our vision is to become the leading technologically advanced fashion platform in the world and to do so we will revolutionize the way we interact with consumers,” said Grieder. In addition to doubling the turnover they want become one of the top 100 global brandsi» (in the photo above, the Hugo Boss store in the Ginza district, in Tokyo).

The five pillars

The claims, which we could define as pillars are: Boost brands (enhance brands), Product is king (product first), Lead in digital (digital in first place), Rebalance omnichannel (rebalance omnichannel) and Organize for growth (organize growth). Alongside the five claims, Grieder ensured a strong commitment to sustainability, together with “a solid executive road map” and “a clear plan to empower people and teams”.

Loading…

One: empower brands

The company is revamping the Boss and Hugo brands, from logos to marketing, to brand new physical and digital store designs. The contribution of the brands to the turnover was “Prussian”, we could say, detailed: the ambition is to reach approximately 2.6 billion euros from sales of Boss men’s collections and to double those of Boss women’s collections to approximately 400 million, again by 2025. This will be achieved, explained Grieder “by improving the perception general of Boss as a lifestyle brand and strongly focusing on digital ». Another approximately 800 million will come from the Hugo line, which aims at a younger target and has a slightly lower price positioning than the main ones. The licenses, including perfumes, watches and eyewear, among others, will help generate 200 million in revenues by 2025. The budget to be allocated to marketing activities has already been foreseen: one hundred million between now and 2025.

See also  Vault by Vans Partners with INVINCIBLE for First Collab Collection

Two: the product first of all

Grieder wants to make the quality-price ratio more and more evident, offering “premium” products with a strong innovation content sustainability, the most important lever to win over the new generations. To become the first point of contact for younger consumers, the strategy of the Hugo line “is based on a wide range of commercial and contemporary garments that reflect an authentic and unconventional style”. On these objectives it will obviously be important – you can read between the lines of the company’s statements – a reorganization and / or strengthening of the style office.

Three: digital first

The 2025 strategy includes a strong commitment to further digitize business activities along the entire value chain, from trending and digital product development to AI-enabled pricing capabilities and global launch of digital showrooms. A digital campus is also planned to further expand the company’s digital capabilities and enhance the consumer experience by “leveraging” data. L’Hugo Boss Digital Campus it will have an office in Metzingen and one in Porto (city of Portugal). Overall, the company will increase its digital investments by more than 150 million by 2025.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy