Annual Report 2020

Annual Report 2020

Highlights 2020

Yves Müller, Spokesperson of the managing board

For HUGO BOSS, 2020 was undoubtedly a challenging year. I am proud that we have managed to overcome the many challenges of the pandemic, ending the year with a positive free cash flow. We have made significant progress along the execution of our strategic initiatives – especially in the important online business, and in China. Although the pandemic continues to have a severe impact on our business in the short term, I am highly confident when it comes to the further recovery of our business in the course of the year. We will continue to leverage the global trend of casualization.

2020 at a glance

Group sales

in million eur

1,946
2019: 2,884

Ebit*

in million eur

(126)
2019: 355

Consolidated net income*

in million eur

(131)
2019: 212

Employees

13,759
2019: 14,633

Free cash flow

in million eur

164
2019: 457

Capital expenditure

in million eur

80
2019: 192

Strategic Priorities

Casual: the new normal

In 2020, a fashion trend that had been gathering momentum for some time went into overdrive. Casualization.

The rise and rise of global e-commerce

The unpredictability of the pandemic had an overwhelming impact on our daily lives. However, the fact that our ecommerce expansion was already in full swing allowed us to continue to serve our customers, even when everything around us was changing.

From sketch to sale: collection development goes digital

Digital development - from start to finish - is already reality for a major part of BOSS and HUGO collections today. The days of creating and transporting physical prototypes and samples are numbered, as a new digital era arrives – one defined by speed, flexibility, cost efficiency, and sustainability.

Group strategy

Hugo Boss Worldwide

Americas

~1,600

Points of sale

92

Freestanding retail stores

2

Showrooms

Europe*

~5,200

Points of sale

212

Freestanding retail stores

9

Showrooms

* incl. Middle East/Africa.

Asia/Pacific

~550

Points of sale

141

Freestanding retail stores

1

Showroom

Click to explore
* incl. Middle East/Africa.