The Germany-based brand raised its projected sales after they made €878 million ($1.72 billion) in the second quarter of 2022.
Hugo Boss, a brand that was quiet compared to its fellow German clothing brands (Adidas, MCM, and Puma), made noise this year. In its 98th year in the market, Hugo Boss was rebranded to target millennials and Gen-Z members.
To do this, Hugo Boss is catering to two young demographics and splitting into two brands. Targeting Gen Z, aged under 25, is Hugo. For the millennials aged 25 to 40, is Boss.
Both sub-brands relied on heavy digital marketing approaches. Hugo’s campaign tapped international superstars such as Maddie Ziegler, model Adut Akech, and Korean-American rapper Big Matthew for Tiktok content. Its product range follows streetwear trends, denim, and contemporary tailoring.
On the other hand, Boss, which is marketed mainly on Instagram, enlisted supermodels Kendall Jenner and Hailey Bieber, rapper Future, South Korean singer-actor Lee Min-ho, and boxer Anthony Joshua. In the #BeYourOwnBoss campaign, we saw tailored menswear pieces and casual and athleisure pieces. While womenswear “touches all bases” from business and casual attire to evening wear.
While the campaigns and rebrand were launched last January, the pivot seems to have worked. According to Vogue Business, due to their 2022 second-quarter sales of €878 million ($1.72 billion), Hugo Boss expects to record sales of €3.5 billion (nearly $4.3 billion) by the end of August.
Most of its sales are thanks to Europe, North America, and South America. “The strong acceleration of our business performance in the second quarter impressively demonstrates the successful execution of our ‘Claim 5’ strategy, only one year after its introduction,” Hugo Boss’ CEO, Daniel Grieder, said in a statement.
Grieder prompted the brand’s “Claim 5” growth strategy, which has the objectives: boost brands, the product is king, lead in digital, rebalance omnichannel, and organize for growth.
“Our bold branding refresh resonates extremely well with our customers around the globe and will further drive brand momentum,” he concluded.
Banner photo from @Boss on Instagram.