Investing
Hugo Boss lifts 2025 sales target
© Reuters. FILE PHOTO: The logo of German fashion company Hugo Boss is seen at a store in Vienna, Austria, November 23, 2016. REUTERS/Leonhard Foeger/File Photo
(Reuters) -German fashion house Hugo Boss on Thursday said it expected its sales to grow more by 2025 than it had originally envisioned, citing strong demand across its markets.
The company forecast sales of 5 billion euros ($5.4 billion) by 2025, compared to the previous target of 4 billion euros, which it expects to meet already this year.
Hugo Boss, which has undergone a brand revamp under the leadership of former Tommy Hilfiger head Daniel Grieder, is investing on marketing to gain visibility as it seeks to boost sales and expand its market share.
It also targets an operating profit (EBIT) of 600 million euros by 2025, compared to its prior goal of around 480 million euros, and an EBIT margin of at least 12%, compared to a previous forecast of around 12%.
It said it would keep its marketing investments at a level of 7% to 8% of group sales until 2025.
($1 = 0.9247 euros)
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