Luxury fashion brand Hugo Boss has reported a 16 per cent sales increase for its first quarter, it has been announced today.
While sales and earnings rose substantially for the six months to the end of June 2012, EBITDA jumped 16 per cent to â‚¬226 million (£177 million) with the speed of growth for the business outstripping its strong first half performance.
On a currency-neutral basis, overall sales rose 14 per cent with sales in Europe jumping 17 per cent over the period thanks to double-digit growth in all markets.
In the Americas region, sales saw an 11 per cent boost driven by solid US sales, and revenues in its Asian operations grew four per cent.
Over the first half of the year, wholesale sales lifted 10 per cent on the previous year as the German fashion house developed is offering to introduce four new lines per year and the company believes that such changes are driving growth.
“We again achieved significant increases in sales and earnings in the first six months”, says Claus-Dietrich Lahrs, CEO of Hugo Boss AG.
“This success was driven by increases in all regions. We are therefore confident that we shall achieve our targets for the year as a whole even in a more challenging economic environment.”