Annual Report 2021

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Currency-adjusted Group sales increase 43% in fiscal year 2021

Significant growth across all brands, regions, and distribution channels

Operating result (EBIT) grows strongly to EUR 228 million

In fiscal year 2021, HUGO BOSS recorded significant top- and bottom-line improvements. While the implications of the COVID-19 pandemic were still noticeable at the beginning of the year, particularly in Europe, business recovery strongly accelerated from the second quarter onwards. As a result of the lifting of pandemic-related restrictions and strong progress in vaccination campaigns, global consumer sentiment picked up noticeably. A related increase in local demand was particularly evident in Europe and the Americas. Already in the third quarter, HUGO BOSS returned to pre-pandemic sales and earnings levels, driven by a further strong recovery of its global business. The successful execution of several key brand, product, and sales initiatives as part of the “CLAIM 5” strategy also supported the business performance of HUGO BOSS. Finally, in the fourth quarter, the Company recorded the highest quarterly sales in its history due to a further strong acceleration in momentum, despite renewed concerns around the COVID-19 pandemic towards the end of the year. In 2021, on average, around 10% of the Group’s own stores were affected by pandemic-related temporary closures (2020: around 20%).