COMPANY PROFILE -Hugo Boss AG
Business Sector :Fashion & Lifestyle
Operating Geography :Germany, Europe, Global
About Hugo Boss AG :
Hugo Boss AG, popularly known as BOSS, is a German company established in 1924. It is headquartered in Metzingen, Germany. It produces fashion apparels & accessories for men and women. Its product portfolio includes latest clothes from eveningwear to sportswear, shoes, fragrances, eyewear, watches, children’s fashion, home textiles and writing instruments. Hugo and Boss are its core brands which offer premium and upper premium range respectively. It has 56 consolidated companies for local business. Hugo Boss’s products are sold in 128 countries through 451 freestanding retail stores. The share price of the company in 2021 closed at EUR 53.50, which represents an increase of 96%. There are more than 14,000 employees working for Hugo Boss as of 2022. Hugo boss announced its strategic roadmap (valid till 2025) named, ‘CLAIM 5” - which is the base of the new era.
Hugo Boss’s USP or unique selling proposition lies in it being one of the leading companies in the premium segment of the global apparel market. The vision of Hugo Boss is “Become the leading premium tech-driven fashion platform worldwide”, and the mission is “We love Fashion, We change Fashion”
Hugo Boss AG Revenue :
EUR 2.786 Billion - FY ending 31st Dec, 2021
EUR 1.945 Billion - FY ending 31st Dec, 2020
Competitive Analysis of Hugo Boss AG
The SWOT analysis for Hugo Boss AG is presented below:
| Strengths | Weaknesses |
1. Strong Financial Performance
2. Strong Brand image with core brands Hugo & Boss
3. Swift changes to maintain exclusivity of its premium products
4. Strong footing In Asia-Pacific markets
5. Solid strategic Fields of Action for long term success
| 1. Highly competitive environments affect the business |
| Opportunities | Threats |
1. Growth Potential in casual wear and athleisure
2. Growth opportunities in Emerging Economies
| 1. Adverse impact of Environmental Changes
2. Threats due to operational failure
3. Competitive risks |
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Detailed SWOT Analysis of Hugo Boss AG
Strength
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Weakness
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Opportunity
1. Growth Potential in Athleisure and Casual wear: Hugo Boss has huge potential in the casual wear business which is being preferred over its sharp tailored apparel range. Growing demand for premium comfort wear is growing with a growing middle class cohort. Athleisure segment’s growth is expected to be above average as per The Business of Fashion and McKinsey & Company. Hugo Boss can expand this segment by increasing the scale and productivity of Hugo Boss Orange which has already been integrated with Boss. Casual wear demand is prominent in menswear as well as women’s wear. Thus, by exploiting this demand globally, Hugo Boss can increase footfall, sales volume and hence revenue.
2. Growth opportunities in Emerging Economies: The growing population in China, India, Hong Kong, etc. is the potential customer base for the group due to increase in their disposable income and purchasing power. Hugo Boss can tap demand for premium as well as entry level range and increase its market penetration in these regions. The growing GDP of China, India and other south-east Asian nations hold a good market size with favorable interest rate and low exchange rate. Hugo Boss can increase its sales by growing its retail business in Middle East, and South-East Asian countries. It can also make strategic collaborations and realign its portfolio in these economies to increase their global footprint and exploit the growing demand even in the upper premium segment.
The remaining section under "Opportunity" is available only in the 'Complete Report' on purchase.
Threat
This section is available only in the 'Complete Report' on purchase.
The PESTLE analysis for Hugo Boss AG is presented below:
| Political | Economical |
1. Impact of Brexit on sales
2. Political Uncertainties Worldwide | 1. Impact of Interest Rate
2. Implication of Covid - 19 on Hugo Boss |
| Social | Technological |
1. Fulfilment of Corporate Social Responsibility
2. Increase in spending in Premium menswear
3. Using sustainability as an important part of business activities
| 1. Digitalization of business
2. iOS App and Web Portal for better consumer reach
3. Use of 3D technology for designing
|
| Legal | Environmental |
| 1. Strict compliance with Government laws | 1. Sustainable Practices
2. Animal Welfare and Protection |
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Detailed Pestle Analysis of Hugo Boss AG
Political
This section is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
1. Fulfilment of Corporate Social Responsibility: Hugo Boss has set forth social standards for socially beneficial operations. It has defined working hours limit, banned child labor and forced labor. These laws ensure adherence to ethical practices, labor and social standards even in countries where national legislations are not well defined. It has an open channel for dialog with employees. It has even addressed the issues of violation of labor standards in India and Venezuela which reflects its sensitivity towards employee rights. It also plans to include sustainability as a part of their “Claim 5” strategy.
The remaining section under "Social" is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
This section is available only in the 'Complete Report' on purchase.
Major Brands :
- BOSS
- Hugo
- BOSS Orange
- BOSS Green
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TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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References used in Hugo Boss AG SWOT & PESTLE Analysis Report
1. Hugo Boss Group Profile: https://groupprofile.hugoboss.com/en/success/
2. Hugo Boss Investor Relations: https://group.hugoboss.com/files/user_upload/Investor_Relations
3. Hugo Boss Investor Relations Strategy: https://group.hugoboss.com/en/investor-relations/investment-case/strategy/
4. Hugo Boss Investor Relations Results: https://group.hugoboss.com/fileadmin/media/hbnews/user_upload/Investor_Relations/Finanzberichte/2022/2022-03-10_Press_Release_Full_Year_Results_2021.pdf
5. Hugo Boss Annual Report: https://group.hugoboss.com/fileadmin/media/hbnews/user_upload/Investor_Relations/Finanzberichte/2022/HUGO_BOSS_Annual_Report_2021.pdf
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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Hugo Boss AG SWOT and PESTLE analysis has been conducted by Kanupriya Sheopuri and reviewed by senior analysts from Barakaat Consulting.
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