By Matthew Roscoe • 03 November 2020 • 17:19
HUGO BOSS is looking to boost its online business after tapping into the trend for more casual fashion helped third-quarter sales.
The announcement made on Tuesday, November 3, is set to combat a second-quarter loss as the German fashion house hopes to boss end of year sales with a more online, casual clothes based approach.
The company recorded a third-quarter operating profit of €15 million with acting Chief Executive Yves Mueller telling journalists casualwear has become more profitable than the company’s core business of selling smart men’s suits, stating: “We have a lot more to offer than the classical suit.”
Mueller noted that customers were increasingly mixing formal and casual items, such as wearing a suit jacket with a T-shirt and sneakers.
Online sales jumped 66% in the third quarter, as Hugo Boss launched ecommerce in 24 more markets, with another 12 countries to be added in 2021.
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Originally from the UK, Matthew is based on the Costa Blanca and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]
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