Hugo Boss Ag · XETR:BOSS

Hugo Boss — Investor Presentation (March 2026)

116 slides from Hugo Boss's investor presentation, March 2026

Slide 3: From Great to Excellent: CLAIM 5 TOUCHDOWN
FROM GREAT TO EXCELLENT CLAIM 5 TOUCHDOWN
Slide 4: Since the launch of CLAIM 5, we achieved record results and rebuilt our brands
PAGE 4 SINCE THE LAUNCH OF CLAIM 5, WE ACHIEVED RECORD RESULTS AND REBUILT OUR BRANDS © HUGO BOSS
Slide 5: We surpassed our original €4B sales target in 2023
PAGE 5 WE SURPASSED OUR ORIGINAL €4B SALES TARGET IN 2023 - TWO YEARS AHEAD OF PLAN 4.2 4.3 3.7 SALES SALES CAGR (IN EUR BILLION) 2020 – 2024: 2.9 2.8 2.8 2.7 2.7 2.8 +22% CLAIM 5 1.9 EBIT MARGIN MARKET 15.9% SHARE* CAGR 12.5% 12.4% 11.9% 2020 – 2024: 9.8% 9.2% 9.8% 8.4% 8.2% +11% 2015 2016 2017 201
Slide 6: We put consumers at the top and turned them into true fans
PAGE 6 WE PUT CONSUMERS AT THE TOP AND TURNED THEM INTO TRUE FANS +13M NEW FOLLOWERS +8M NEW MEMBERS SINCE 2021 SINCE 2021 © HUGO BOSS
Slide 7: BOSS and HUGO successfully repositioned
PAGE 7 BOSS AND HUGO SUCCESSFULLY REPOSITIONED #BEYOUROWNBOSS #HUGOYOURWAY NEW VISUAL MODERN UPDATED REFRESHED IDENTITIES CAMPAIGNS LOGOS STORES © HUGO BOSS
Slide 8: We introduced new brand lines
PAGE 8 WE INTRODUCED NEW BRAND LINES BOSS MEN RANGING HUGO FROM LUXURIOUS BOSS WOMEN TO BOLD STYLES © HUGO BOSS
Slide 9: Invested into quality and craftsmanship
PAGE 9 WE SIGNIFICANTLY INVESTED INTO QUALITY AND CRAFTSMANSHIP, AND IMPROVED PRICE-VALUE PROPOSITION © HUGO BOSS
Slide 10: CLAIM 5 made us omnipresent and agile
PAGE 10 CLAIM 5 MADE US OMNIPRESENT AND AGILE DIRECT-TO-CONSUMER PARTNERS RETAIL RETAIL HB.COM DIGITAL DEPARTMENT FRANCHISE STORES OUTLETS AND APP PLAYERS STORES STORES © HUGO BOSS
Slide 11: Key financial achievements of our CLAIM 5 strategy
PAGE 11 KEY FINANCIAL ACHIEVEMENTS OF OUR CLAIM 5 STRATEGY STRONG ACCELERATION UNDERLYING GROSS MARGIN SUCCESSFUL OPEX IN TOP-LINE GROWTH IMPROVEMENT DESPITE ALIGNMENT WITH SLOWING (22% CAGR 2020 – 2024) MARKET CHALLENGES MARKET TRENDS (2020: 61.0%; 2024: 61.8%) SUBSTANTIAL CAPEX PROGRESSIVE DIVIDEN
Slide 12: The world is becoming less global, fragmented and volatile
PAGE 12 SINCE THE LAUNCH OF CLAIM 5, THE WORLD IS BECOMING LESS GLOBAL, INCREASINGLY FRAGMENTED, AND VOLATILE © HUGO BOSS
Slide 14: TOUCHDOWN stands for excellence
PAGE 14 TOUCHDOWN IT’S ABOUT STANDS FOR FOCUSING ON EXCELLENCE WHERE WE THROUGH HAVE NOT YET REFOCUS ACHIEVED OUR AND INITIAL REALIGNMENT OBJECTIVES BEFORE SCALING AND ACCELERATING AGAIN © HUGO BOSS
Slide 15: Our vision, our mission
PAGE 15 OUR VISION OUR MISSION BECOME THE PREMIUM WE LOVE FASHION TECH-DRIVEN, WE CHANGE FASHION CUSTOMER-CENTRIC GLOBAL FASHION PLATFORM © HUGO BOSS
Slide 16: Three fields of excellence
PAGE 16 WE WILL FOCUS ON THREE FIELDS OF EXCELLENCE BRAND DISTRIBUTION OPERATIONAL EXCELLENCE EXCELLENCE EXCELLENCE © HUGO BOSS
Slide 18: Focus on brand elevation and leverage 24/7 lifestyle positioning
PAGE 18 FOCUS ON BRAND ELEVATION AND LEVERAGE 24/7 LIFESTYLE POSITIONING © HUGO BOSS
Slide 19: From recognized brands to desired brands
PAGE 19 FROM RECOGNIZED BRANDS TO DESIRED BRANDS AMPLIFY BRAND DRIVE FULL-FUNNEL ACTIVATE EQUITY THROUGH ENGAGEMENT TO PRODUCT-LED STRATEGIC CONVERT STORYTELLING FOR PARTNERSHIPS AWARENESS INTO IMPACTFUL PURCHASE INTENT CAMPAIGNS DRIVE BRAND EQUITY MARKETING INVESTMENTS AS A % OF SALES ~7 % © HUGO B
Slide 20: High-impact collaborations and partnerships
PAGE 20 WE WILL INVEST IN HIGH-IMPACT COLLABORATIONS AND PARTNERSHIPS TO REINFORCE BRAND RELEVANCE BRAND FASHION HIGH-IMPACT PRODUCT KEY SPORTS HOLIDAY CAMPAIGN SHOW PARTNERSHIPS MOMENTUM PARTNERSHIPS CAMPAIGNS TELLING RELATABLE STORIES OF AUTHENTIC CHARACTERS © HUGO BOSS
Slide 21: Drive full-funnel engagement
PAGE 21 WE WILL DRIVE FULL-FUNNEL ENGAGEMENT TO CONVERT AWARENESS INTO PURCHASE INTENT AND LOYALTY AWARENESS INTEREST CONSIDERATION CONVERSION LOYALTY INVITE CONSUMERS TO BECOME PART OF THE BRAND STORY © HUGO BOSS
Slide 22: Activate product-led storytelling
PAGE 22 WE WILL ACTIVATE PRODUCT-LED STORYTELLING TO INSPIRE, CONNECT AND CONVERT BRAND CAMPAIGN INSPIRE CONNECTING EVERY COMMERCIAL COLLABORATIONS BRAND MOMENTS LAYER BACK CONNECT SPORTS MOMENTS TO THE CULTURE BRAND PRODUCT CAMPAIGNS CONVERT PARTNERSHIPS CATEGORY PUSHES © HUGO BOSS
Slide 23: Purpose, relevance, and aspiration
PAGE 23 OUR FUTURE WILL BE BUILT ON PURPOSE, RELEVANCE, AND ASPIRATION. © HUGO BOSS
Slide 24: Bold moves to become real women's & men's powerhouses
PAGE 24 BOLD MOVES WOMEN TO BECOME REAL WOMEN’S & MEN’S POWERHOUSES DEDICATED LEADERSHIP PER GENDER MEN TRUE SPECIALIST UNDER ONE ROOF TO LEVERAGE GENDER-SPECIFIC KNOW-HOW FOSTER COLLABORATION TO IMPROVE EFFICIENCY AND UNLOCK UNTAPPED SYNERGIES © HUGO BOSS
Slide 25: BOSS Men remains our core business
PAGE 25 BOSS MEN REMAINS OUR CORE BUSINESS AND THE FUTURE GLOBAL GROWTH ENGINE © HUGO BOSS
Slide 26: We built a true 24/7 lifestyle brand
PAGE 26 WE BUILT A TRUE 24/7 LIFESTYLE BRAND BOSS CAMEL BOSS ORANGE FUEL BRAND STRENGTHEN ELEVATION WITH CASUAL LIFESTYLE WORLD-RENOWNED POSITIONING CRAFTSMANSHIP BOSS BLACK BOSS GREEN MAINTAIN POSITION LEVERAGE THE WITH ICONIC TAILORING ACTIVEWEAR & MODERN LIFESTYLE MOMENTUM © HUGO BOSS
Slide 27: Our focus for BOSS Men
PAGE 27 OUR FOCUS FOR BOSS MEN LEAD THE 24/7 MAKE THE SHARPEN OUR TAKE THE STREAMLINE LIFESTYLE BIG BIGGER OFFER MOMENTUM ASSORTMENT become the leading expand beyond establish clear keep focusing on simplify complexity premium lifestyle tailoring with focus brand lines; shoes, accessories, to drive
Slide 28: CLAIM 5 modernized BOSS Women
PAGE 28 CLAIM 5 MODERNIZED BOSS WOMEN BUT WE STILL NEED TO SHARPEN BRAND POWER TO REACH OUR GOALS © HUGO BOSS
Slide 29: Identity before growth
PAGE 29 IDENTITY BEFORE GROWTH CLEAR CONSISTENT RELEVANT DEFINE OUR BUILD AUTHENTIC DESIGN WITH OUR FEMALE OWN DNA BRAND POSITIONING CONSUMER IN MIND BE PRECISE AND OFFER COHESIVE PRODUCT CATER TO WOMEN WHO CONFIDENT ABOUT WHAT ASSORTMENT WITH ALIGN WITH OUR DNA WE STAND FOR EVERYDAY ESSENTIALS © HU
Slide 30: Our focus for BOSS Women
PAGE 30 OUR FOCUS FOR BOSS WOMEN IDENTITY BUILD DEFINE HERO CORE REGION THINK WOMEN BEFORE EMOTIONAL AND CORE AND FOR WOMEN GROWTH CONNECTION PRODUCTS DISTRIBUTION sharpen positioning emphasize the new refine style by focus on Europe as strengthen the to transform BOSS brand messaging building hero
Slide 31: Sharpen HUGO to reignite relevance and brand heat
PAGE 31 SHARPEN HUGO TO REIGNITE RELEVANCE AND BRAND HEAT © HUGO BOSS
Slide 32: HUGO: realign the brand for profitable growth
PAGE 32 REALIGN THE BRAND FOR PROFITABLE GROWTH ONE COHERENT BRAND IDENTITY BUILT ON OUR HERITAGE OUR STRENGTH LAYS IN TAILORING AND CONTEMPORARY FASHION COMMERCIAL AND INCLUSIVE PRODUCT OFFER TARGETING A WIDE AUDIENCE FIRST TOUCHPOINT HUGO IS FOR AMBITION TO OUR BRAND UNIVERSE © HUGO BOSS
Slide 33: A seamless blend between HUGO Red and Blue
PAGE 33 A SEAMLESS BLEND BETWEEN HUGO RED AND BLUE WORK CELEBRATE HANGOUT EXPLORE RELAX HUGO FOR EVERY OCCASION © HUGO BOSS
Slide 34: Our focus for HUGO
PAGE 34 OUR FOCUS FOR HUGO STRENGTHEN REFINE BRAND UNIFY HUGO ELEVATE CORE REGIONS THE BRAND POSITIONING LINES DISTRIBUTION sharpen brand realign the field of align existing brand optimize footprint to focus on regional identity to play by being more lines ensuring one drive profitability opportunit
Slide 35: Optimizing our product assortment
PAGE 35 OPTIMIZING OUR PRODUCT ASSORTMENT REDUCE COLLECTION COMPLEXITY BOSS MEN SIMPLIFY SEASONAL OFFER TO CREATE A MORE STYLE COMPLEXITY DEVELOPMENT FOCUSED AND IMPACTFUL ASSORTMENT -25% 2020 DO LESS WITH BIGGER IMPACT CONCENTRATE ON FEWER STYLES TO DELIVER GREATER VALUE AND RESONANCE WITH CUSTOMER
Slide 37: Elevate the global brand experience
PAGE 37 CONTINUE TO DRIVE ELEVATE THE RETAIL PERFORMANCE GLOBAL BRAND EXPERIENCE LEAD IN WHOLESALE THROUGH STRATEGIC PARTNERSHIPS WITH A HIGH-QUALITY OPTIMIZE OUR ONLINE BUSINESS AND DISTRIBUTION FURTHER INVEST IN CONTENT ASSETS STRATEGY STRENGTHENING OUR POSITION IN EUROPE, WHILE FOCUSING ON U.S. A
Slide 38: Rationalize our store portfolio
PAGE 38 RATIONALIZE OUR STORE PORTFOLIO TO IMPROVE OVERALL PROFITABILITY OPTIMIZE RENT-TO-SALES THROUGH RENEGOTIATIONS UP TO 50 ALIGN PAY-TO-SALES CLOSINGS OF TO STORE TRAFFIC FREESTANDING STORES CLOSE STORES 2024 VS. 2028 WHICH CONSISTENTLY UNDERPERFORM © HUGO BOSS
Slide 39: Boosting productivity in retail
PAGE 39 BOOSTING PRODUCTIVITY IN RETAIL  CAPITALIZE ON KEY COMMERCIAL OPPORTUNITIES  CONTINUE LEVERAGING SMART PRICE INCREASES  STRENGTHEN RELATIONSHIPS WITH CONSUMERS THROUGH LOYALTY PROGRAM © HUGO BOSS
Slide 40: Lead in wholesale through strategic partnerships
PAGE 40 LEAD IN WHOLESALE THROUGH STRATEGIC PARTNERSHIPS WIN WITH THE WINNERS OPTIMIZE ASSORTMENT EFFICIENCY UNLOCK FRANCHISE OPPORTUNITIES © HUGO BOSS
Slide 41: Fuel growth with key franchise partners
PAGE 41 FUEL GROWTH WITH KEY FRANCHISE PARTNERS SEAMLESS INTEGRATION INTO OMNICHANNEL UNIVERSE TO ENSURE CONSISTENT CUSTOMER EXPERIENCE FOCUS ON EMERGING MARKETS, ~390 ~550 WESTERN EUROPE, AND LATIN AMERICA FRANCHISE STORES FRANCHISE STORES 2024 2028 © HUGO BOSS
Slide 42: Optimize our online business
PAGE 42 WE WILL OPTIMIZE OUR ONLINE BUSINESS AMPLIFY TWO-BRAND STRATEGY TO UNLOCK FURTHER ON OUR DIGITAL FLAGSHIP HUGOBOSS.COM GROWTH OPTIMIZE PERFORMANCE MARKETING BY LEVERAGING DATA INSIGHTS REINFORCE STRICT ASSORTMENT GUIDELINES FOR HUGOBOSS.COM AND DIGITAL PARTNERS ENHANCE CUSTOMER EXPERIENCE WI
Slide 43: Strengthen the U.S. and China, build on Europe
PAGE 43 STRENGTHEN THE U.S. AND CHINA TO TURN THEM INTO REGIONS OF EXCELLENCE AND USE OPPORTUNITIES IN EMERGING MARKETS CONTINUE BUILDING ON EUROPE TO FURTHER INCREASE MARKET SHARE
Slide 44: The U.S.: profitability before growth
PAGE 44 THE U.S. PROFITABILITY BEFORE GROWTH OPTIMIZE OUR DISTRIBUTION FOOTPRINT POTENTIAL WITH FOCUS ON FULL-PRICE SALES LOCALIZED MARKETING APPROACH €190B U.S. MARKET SHARE: ~0.5% U.S. EUROPE ADDRESSABLE MARKET SHARE: MARKET* ~2.8% INCREASE B&M RETAIL, CAPEX, AND MARKETING EFFICIENCIES *FY25E Prem
Slide 45: China: lay foundation for future growth
PAGE 45 CHINA LAY FOUNDATION FOR FUTURE GROWTH POTENTIAL OPTIMIZE OUR RETAIL PORTFOLIO BOOST SOCIAL COMMERCE €133B CHINA MARKET SHARE: ~0.2% CHINESE EUROPE ADDRESSABLE MARKET SHARE: MARKET* ~2.8% INCREASE BRAND EQUITY WITH LOCALIZED APPROACH *FY25E Premium & Luxury Market incl. Apparel, Footwear, Ac
Slide 46: Emerging markets: seize opportunities
PAGE 46 EMERGING MARKETS SEIZE OPPORTUNITIES EXPLORE MARKET OPPORTUNITIES POTENTIAL BEYOND UAE ACTIVATE LOCAL BRAND PRESENCE €29B EMERGING MARKETS MARKET EMERGING SHARE: ~0.8% MARKETS ADDRESSABLE EUROPE MARKET* MARKET SHARE: DEVELOP FRANCHISE OPPORTUNITIES ~2.8% *FY25E Premium & Luxury Market incl.
Slide 48: Driving operational excellence along our value chain
PAGE 48 DRIVING OPERATIONAL EXCELLENCE ALONG OUR VALUE CHAIN SMART AGILE OPERATIONAL AUTOMATED LEAN DECISIONING PLANNING EFFICIENCY LOGISTICS BACK-OFFICE Empowering faster Drive agility in Leveraging Expansion of highly Streamline back- and smarter planning to economies of scale automated global end
Slide 49: Leveraging investments to fuel long-term profitable growth
PAGE 49 THROUGH CLAIM 5 TOUCHDOWN, WE ARE NOW LEVERAGING OUR INVESTMENTS TO FUEL LONG-TERM PROFITABLE GROWTH © HUGO BOSS
Slide 50: CLAIM 5 TOUCHDOWN will elevate our operational excellence
PAGE 50 CLAIM 5 TOUCHDOWN WILL ELEVATE OUR OPERATIONAL EXCELLENCE GROSS MARGIN OPERATING CAPITAL INVENTORY DRIVING EXPENSES EXPENDITURE LEVELS SUSTAINABLE ENHANCING TARGETING OPTIMIZING TRADE MARGIN EFFICIENCY ACROSS NORMALIZED NET WORKING IMPROVEMENTS THE ORGANIZATION INVESTMENT LEVELS CAPITAL LEVE
Slide 52: Our future model for shareholder returns
PAGE 52 OUR FUTURE MODEL FOR SHAREHOLDER RETURNS BRAND EXCELLENCE + DISTRIBUTION EXCELLENCE + OPERATIONAL EXCELLENCE = MEANINGFUL FREE CASH FLOW GENERATION & STRONG SHAREHOLDER VALUE CREATION © HUGO BOSS
Slide 53: Brand excellence: drive brand elevation and gross margin
PAGE 53 BRAND EXCELLENCE DRIVE BRAND ELEVATION AND GROSS MARGIN HIGHER SHARE STRATEGIC PRICE MARKETING OF FULL-PRICE INCREASES TO INVESTMENTS SALES IN RETAIL ENHANCE GROSS TARGETED AT AND LOWER MARGIN ~7% OF SALES MARKDOWNS © HUGO BOSS
Slide 54: Distribution excellence: more selective, drive profitability
PAGE 54 DISTRIBUTION EXCELLENCE MORE SELECTIVE, DRIVE PROFITABILITY CAREFUL REVIEW SELECTIVE SEAMLESS OF OWN STORE WHOLESALE INTEGRATION OF NETWORK DISTRIBUTION FRANCHISE BY ASSORTMENT INTO SEGMENTATION OMNICHANNEL UNIVERSE © HUGO BOSS
Slide 55: Operational excellence: lift margins and cash generation
PAGE 55 OPERATIONAL EXCELLENCE LIFT MARGINS AND CASH GENERATION GROSS MARGIN DISCIPLINED INVENTORY AND IMPROVEMENTS OPEX CAPITAL THROUGH MANAGEMENT TO OPTIMIZATION SOURCING DRIVE OPERATING TO BOOST CASH EFFICIENCIES LEVERAGE GENERATION © HUGO BOSS
Slide 56: Sales: 2026 refocus
PAGE 56 SALES 2026 REFOCUS DECLINE IN THE MID- TO HIGH- SINGLE-DIGIT RANGE* DRIVERS 2020 2021 2022 2023 2024 2025E 2026E 2027E 2028E GROUP SALES (IN EUR BILLION) *Currency-adjusted
Slide 57: Sales: 2027 grow, 2028 accelerate
PAGE 57 SALES 2027 GROW 2028 ACCELERATE RETURN TO GROWTH AND ACCELERATE DRIVERS 2020 2021 2022 2023 2024 2025E 2026E 2027E 2028E GROUP SALES (IN EUR BILLION)
Slide 58: Gross margin improvements targeted through 2028
PAGE 58 GROSS MARGIN IMPROVEMENTS TARGETED THROUGH 2028 DRIVERS STRATEGIC PRICING ~62% SOURCING EFFICIENCY FULL-PRICE SELL-THROUGH LOWER MARKDOWNS 2025E 2026E 2027E 2028E
Slide 59: Levers for operating leverage: retail efficiency
PAGE 59 LEVERS FOR OPERATING LEVERAGE STREAMLINE THE OPTIMIZE STORE PORTFOLIO TO NETWORK WITH STRENGTHEN FOCUS ON RENT-TO- PERFORMANCE SALES AND PAY-TO- SALES EFFICIENCY RETAIL EFFICIENCY
Slide 60: Levers for operating leverage: marketing effectiveness
PAGE 60 LEVERS FOR OPERATING LEVERAGE INVEST IN KEY BRAND MAINTAIN INITIATIVES AND MARKETING PRIORITIZE INVESTMENTS AT INVESTMENTS ~7% OF SALES WITH THE HIGHEST RETURN MARKETING EFFECTIVENESS
Slide 61: Levers for operating leverage: lean back-office
PAGE 61 LEVERS FOR OPERATING LEVERAGE OPTIMIZE BACK- ROLL OUT GLOBAL OFFICE BY BUSINESS SERVICES LEVERAGING TO ENHANCE AUTOMATION AND AI EFFICIENCY AND SCALABILTY LEAN BACK-OFFICE
Slide 62: EBIT development in 2026 impacted by sales decline
PAGE 62 EBIT DEVELOPMENT IN 2026 IMPACTED BY SALES DECLINE €300–350M ~€380M DRIVERS 2026 2025E* 2026E 2027E 2028E *Reflecting the latest Vara Consensus (as of 11/17/2025)
Slide 63: EBIT recovery to start in 2027
PAGE 63 EBIT RECOVERY TO START IN 2027 RETURN TO ~€380M PROFITABLE GROWTH LONG-TERM EBIT MARGIN POTENTIAL ~12% 2025E* 2026E 2027E 2028E *Reflecting the latest Vara Consensus (as of 11/17/2025)
Slide 64: Capital expenditure
PAGE 64 CAPITAL EXPENDITURE CAPITAL EXPENDITURE (IN % OF GROUP SALES) SIGNIFICANT 08 INFRASTRUCTURE AND RETAIL INVESTMENTS 07 WITHIN CLAIM 5 06 CLAIM 5 TOUCHDOWN WILL SEE NORMALIZATION 05 IN CAPEX LEVELS 04 FOCUSING ON ~3% – 4% MAINTENANCE 03 INVESTMENTS, PARTICULARLY IT AND RETAIL 2020 2021 2022 20
Slide 65: Trade net working capital
PAGE 65 TNWC TRADE NET WORKING CAPITAL TNWC (IN % OF GROUP SALES) STRICT MANAGEMENT OF 28 TRADE NET WORKING CAPITAL, SUPPORTED BY 26 ONGOING OPTIMIZATION OF INVENTORY POSITION 24 22 INVENTORY LEVELS TO 20 IMPROVE TOWARD 20% OF ~18% – 20% 18 SALES BY 2028 16 2020 2021 2022 2023 2024 2025E 2026E 2027E
Slide 66: Enhancing inventory efficiency
PAGE 66 ENHANCING INVENTORY EFFICIENCY INVENTORIES REDUCE COMPLEXITY IN % OF SALES THROUGH STREAMLINED ASSORTMENT ~25% IMPROVE TRANSPARENCY FOR BETTER PLANNING AND FORECASTING ~20% 2024 INCREASE VISIBILITY IN WHOLESALE THROUGH AUTOMATED PROCESSES (EDI) 2028 INCREASE RETAIL STOCK TURN THROUGH DIGITAL
Slide 67: Focus on free cash flow generation
PAGE 67 FOCUS ON FREE CASH FLOW GENERATION CLAIM 5 TOUCHDOWN CLAIM 5 3X ~€300M ANNUAL FCF * *After repayment of lease liabilities, corresponding to ~€500M before repayment © HUGO BOSS of lease liabilities in accordance with IFRS 16
Slide 68: Our capital allocation framework
PAGE 68 OUR CAPITAL ALLOCATION FRAMEWORK WITHIN CLAIM 5 TOUCHDOWN REINVEST FOR RETURN CASH TO REDUCE FINANCIAL SEEK STRATEGIC ORGANIC GROWTH SHAREHOLDERS LEVERAGE OPPORTUNITIES INVESTMENTS DIVIDEND AND/OR SAFEGUARD MAINTAIN FUTURE INTO BUSINESS SHARE BUYBACK INVESTMENT M&A FLEXIBILITY GRADE
Slide 69: Financial leverage
PAGE 69 FINANCIAL LEVERAGE FINANCIAL LEVERAGE CORRIDOR NET FINANCIAL LIABILITIES* TO EBITDA STRONG INVESTMENT-GRADE RATINGS BY MOODY’S AND S&P INVESTMENT-GRADE RATINGS 1.0x – 2.0x TO BE MAINTAINED WITHIN 1.3x CLAIM 5 TOUCHDOWN MAINTAIN FINANCIAL LEVERAGE IN A RANGE OF 1.0X TO 2.0X 2024 2025E 2026E 2
Slide 70: Our long-term commitment to shareholders
PAGE 70 OUR LONG-TERM COMMITMENT TO SHAREHOLDERS OUTGROW DRIVE ROBUST GENERATE THE MARKET PROFITABILITY MEANINGFUL IMPROVEMENTS FREE CASH FLOW (EBIT MARGIN: ~12%) © HUGO BOSS
Slide 71: Sustainable throughout
SUSTAINABLE THROUGHOUT ESG STRATEGY & PERCEPTION AT THE CAPITAL MARKET
Slide 72: Our sustainability strategy updated in 2026
PAGE 72 OUR SUSTAINABILITY STRATEGY UPDATED IN 2026 FOR A BOLD AND BETTER FUTURE LEVERAGE BETTER SHIFT TO BETTER INCREASE DRIVE DIGITIZATION REDUCE CLIMATE NATURAL POLYESTER & CIRCULARITY & DATA ANALYTICS IMPACT MATERIALS POLYAMIDE 80% >70% 100% 100% -50% Products designed for Digital creation Main
Slide 73: Strong sustainability performance: ESG ratings & rankings
PAGE 73 STRONG SUSTAINABILITY PERFORMANCE ESG RATINGS & RANKINGS CSA 84 points in 2025 (87 pts in 2024) Corporate Sustainability Inclusion in the Dow Jones Best-in-Class World Assessment and Europe Indices in 2024 Climate Change: C (B in 2024) CDP Water Security: B- (B- in 2024) Carbon Disclosure Pr
Slide 75: HUGO BOSS responds to global uncertainty with agility and clarity
PAGE 75 HUGO BOSS RESPONDS TO GLOBAL UNCERTAINTY WITH AGILITY AND CLARITY
Slide 76: Strategic highlights
PAGE 76 STRATEGIC HIGHLIGHTS STRONG REFINEMENT BRAND SUCCESSFUL CONSUMER OF BOSS STRENGTH OF INTRODUCTION RELEVANCE WOMENSWEAR BOSS AND OF CLAIM 5 OF BOSS AND HUGO HUGO TOUCHDOWN MENSWEAR INITIATED
Slide 77: Total member base > 13M
PAGE 77 STRENGTHENING BRAND RELEVANCE AND CUSTOMER LOYALTY CONTINOUS BRAND INVESTMENTS WITH MARKETING SPENDINGS BROADLY STABLE AT ~7% OF SALES TOTAL MEMBER BASE >13M END OF 2025 HOLIDAY BOSS WINTER 2025 CAMPAIGN CAMPAIGN BOSS X STEIFF
Slide 78: BOSS menswear records robust growth
PAGE 78 BOSS MENSWEAR RECORDS ROBUST GROWTH, REAFFIRMING ITS GLOBAL BRAND APPEAL BOSS MEN BECKHAM X BOSS IN % OF SALES IN 2025 ~80% SUCCESSFUL 24/7 LIFESTYLE STRONG ENGAGEMENT AND POSITIONING IN THE UPPER BRAND INTERACTION +3% PREMIUM MARKET WITH BECKHAM X BOSS *CURRENCY-ADJUSTED * BROAD-BASED GROWT
Slide 79: Refinement of BOSS womenswear and HUGO initiated
PAGE 79 REFINEMENT OF BOSS WOMENSWEAR AND HUGO SUCCESSFULLY INITIATED OPTIMIZING PRODUCT ASSORTMENT AND DISTRIBUTION TO STRENGTHEN BRAND IDENTITY *CURRENCY-ADJUSTED (5)% * (4)% * VS. FY 2024 VS. FY 2024 © 2022 HUGO BOSS
Slide 80: BOSS Fall/Winter 2026 fashion show
PAGE 80 BOSS FALL/WINTER 2026 HUGO BECKHAM FASHION SHOW SUMMER 2026 BY BOSS CAMPAIGN © 2022 HUGO BOSS
Slide 81: HUGO BOSS achieves top- and bottom-line guidance
PAGE 81 HUGO BOSS ACHIEVES TOP- AND BOTTOM-LINE GUIDANCE GROUP SALES 4,270 +2 % CURRENCY-ADJUSTED (1)% IN GROUP CURRENCY EUR MILLION VS. FY 2024 EBIT +80BP 391 +8% 9.2% EUR MILLION VS. FY 2024 EBIT MARGIN
Slide 82: Robust performance in Q4 supported by holiday season
PAGE 82 ROBUST PERFORMANCE IN Q4 SUPPORTED BY SUCCESSFUL HOLIDAY SEASON GROUP SALES VS. Q4 2024 +7% * BRANDS REGIONS CHANNELS EBIT BOSS +8% EMEA +9% B&M RETAIL +2% MENSWEAR 154 IN EUR MILLION BOSS (1)% AMERICAS +6% B&M WHS +14% WOMENSWEAR *CURRENCY-ADJUSTED HUGO +2% ASIA/PACIFIC (1)% DIGITAL +12% 12
Slide 83: Americas and EMEA resilience, Asia/Pacific decline
PAGE 83 AMERICAS AND EMEA DEMONSTRATE RESILIENCE IN 2025 AND COMPENSATE FOR DECLINE IN ASIA/PACIFIC AMERICAS EMEA ASIA/PACIFIC +3% +2% (5)% * * * VS. FY 2024 VS. FY 2024 VS. FY 2024 Solid momentum in the U.S. Resilience of key European Development in Asia/Pacific as well as double-digit growth marke
Slide 84: Growth fueled by B&M wholesale and digital
PAGE 84 GROWTH IN 2025 FUELED BY B&M WHOLESALE AND DIGITAL WHILE B&M RETAIL BUSINESS REMAINS STABLE BOSS Store Barcelona B&M RETAIL B&M WHOLESALE DIGITAL 0% * +2% * +7% * VS. FY 2024 VS. FY 2024 VS. FY 2024 Subdued store and mall Successful deliveries to Robust increase in traffic in key markets par
Slide 85: Gross margin development
PAGE 85 GROSS MARGIN DEVELOPMENT SUPPORTED BY SOURCING EFFICIENCIES AND FREIGHT COST OPTIMIZATION DRIVERS FX IMPACTS REBATES 61.8% 61.4 61.5%% CHANNEL MIX SOURCING EFFICIENCIES FREIGHT RATES FY 2024 FY 2025 © 2023 HUGO BOSS
Slide 86: Decrease in operating expenses
PAGE 86 DECREASE IN OPERATING EXPENSES DRIVEN BY ONGOING COST DISCIPLINE DRIVERS OPTIMIZATION ACROSS KEY BUSINESS AREAS 2,299 2,236 EUR MILLION EUR MILLION FOCUS ON B&M RETAIL EFFICIENCY FY 2024 FY 2025 FOCUS ON MARKETING EFFICENCY OPEX IN % OF SALES IMPROVES BY 100 BASIS POINTS TO 52.4% © 2023 HUGO
Slide 87: Operational excellence drives bottom-line improvements
PAGE 87 FOCUS ON OPERATIONAL EXCELLENCE AND STRICT COST MANAGEMENT DRIVES BOTTOM-LINE IMPROVEMENTS Q4 2025 CHANGE FY 2025 CHANGE SALES 1,281 +2% 4,270 (1)% EUR MILLION EUR MILLION GROSS MARGIN 60.8% (160) BP 61.5% (20) BP OPERATING EXPENSES 625 2,236 (3)% (4)% EUR MILLION EUR MILLION OPERATING EXPEN
Slide 88: Disciplined inventory management
PAGE 88 DISCIPLINED INVENTORY MANAGEMENT LEADS TO HEALTHY YEAR-END POSITION ABSOLUTE AND RELATIVE DEVELOPMENT OF INVENTORIES Inventories decrease 10% 1,066 1,072 currency-adjusted supported by INVENTORIES IN % OF SALES INVENTORIES IN EUR MILLION targeted measures to reduce inventory levels 974 Healt
Slide 89: Focus on capex efficiency supports free cash flow
PAGE 89 FOCUS ON CAPEX EFFICIENCY SUPPORTS FREE CASH FLOW DEVELOPMENT IN 2025 DECEMBER 31, 2025 FY 2025 TRADE NET CAPITAL WORKING CAPITAL EXPENDITURE 775 20.0 195 * CURRENCY-ADJUSTED EUR MILLION IN % OF SALES EUR MILLION +5%* +40BP (32)% Increase driven by lower trade Decline reflects focus on inves
Slide 90: Strong free cash flow development
PAGE 90 STRONG FREE CASH FLOW DEVELOPMENT UNDERLINES CASH-GENERATIVE BUSINESS MODEL 2022–2025 FREE CASH FLOW * (IN EUR MILLION) Development supported by bottom-line performance and continued capital expenditure 497 499 discipline 166 96 2022 2023 2024 2025 HUGO BOSS ENDS 2025 WITH A NET FINANCIAL PO
Slide 92: 2026 will play a crucial role
PAGE 92 2026 WILL PLAY A CRUCIAL ROLE IN OUR JOURNEY TOWARD LONG-TERM PROFITABLE GROWTH © 2022 HUGO BOSS
Slide 93: Outlook: sales
PAGE 93 OUTLOOK SALES LEVERS MID- TO HIGH- MORE SELECTIVE DISTRIBUTION APPROACH SINGLE-DIGIT DECLINE 2026E ENHANCING DISTRIBUTION QUALITY IN B&M WHOLESALE AND DIGITAL STREAMLINING PRODUCT ASSORTMENTS ACROSS BRANDS © 2022 HUGO BOSS
Slide 94: Sales outlook by region
PAGE 94 SALES OUTLOOK BY REGION AMERICAS EMEA ASIA/PACIFIC MID- TO HIGH-SINGLE- MID- TO HIGH-SINGLE- MID- TO HIGH-SINGLE- DIGIT DECLINE DIGIT DECLINE DIGIT DECLINE VS. FY 2025 VS. FY 2025 VS. FY 2025 Development reflects Targeted enhancements to Brand and channel productivity and quality distributio
Slide 95: Outlook: EBIT
PAGE 95 OUTLOOK EBIT LEVERS 300 TO 350 EARNINGS DEVELOPMENT IMPACTED BY SALES DECLINE EUR MILLION 2026E TAGRETED GROSS MARGIN IMPROVEMENTS CONTINUED COST DISCIPLINE © 2022 HUGO BOSS
Slide 96: Share buyback program
PAGE 96 HUGO BOSS INTRODUCES SHARE BUYBACK PROGRAM TO DELIVER ATTRACTIVE SHAREHOLDER RETURNS ROBUST SHARE BUYBACK FINANCIAL POSITION PROGRAM STRONG FREE CASH FLOW GENERATION UP TO €200M UNTIL END OF 2027 © 2022 HUGO BOSS
Slide 97: Financial calendar & investor relations contact
PAGE 97 FINANCIAL CALENDAR & INVESTOR RELATIONS CONTACT MAY CHRISTIAN STÖHR 05 Q1 2026 RESULTS SENIOR VICE PRESIDENT INVESTOR RELATIONS E-MAIL christian_stoehr@hugoboss.com PHONE +49 7123 94 80903 2026 LENA BIBERACHER CONTACT SENIOR INVESTOR RELATIONS MANAGER CHRISTIAN STÖHR E-MAIL lena_biberacher@h
Slide 98: General information
I GENERAL INFORMATION BASED ON FY 2025
Slide 99: Five strong reasons for an investment in HUGO BOSS
PAGE 99 FIVE STRONG REASONS FOR AN INVESTMENT IN HUGO BOSS 1 TWO GLOBALLY • BOSS and HUGO - clearly distinguished by their fashionable style but with the same high standards of quality and fit, RECOGNIZED innovation and sustainability. BRANDS • As a 24/7 lifestyle brand, BOSS offers the perfect outf
Slide 100: HUGO BOSS at a glance
PAGE 100 HUGO BOSS AT A GLANCE 4.3 EUR BILLION 391 EUR MILLION 9.2% EBIT 499 EUR MILLION SALES EBIT MARGIN FREE CASH FLOW 128 > 17,500 21% ~8,000 COUNTRIES EMPLOYEES SHARE OF POINTS DIGITAL SALES OF SALE
Slide 101: Comparison of actual and forecast business performance
PAGE 101 COMPARISON OF ACTUAL AND FORECAST BUSINESS PERFORMANCE Results 2024 Forecast 2025 Results 2025 Group sales Between EUR 4.2 billion and EUR 4,307 million Decrease by 1% to EUR 4,270 million EUR 4.4 billion (–2% to +2%) Sales by segment EMEA EUR 2,625 million Remain around the prior-year leve
Slide 102: Sales and earnings development of the business segments in 2025
PAGE 102 SALES AND EARNINGS DEVELOPMENT OF THE BUSINESS SEGMENTS IN 2025 (IN EUR MILLION) © 2022 HUGO BOSS Acquisitions or divestments had no material impact on the Group’s financial performance in 2024.
Slide 103: Sales development by brand in 2025
PAGE 103 SALES DEVELOPMENT BY BRAND IN 2025 BOSS BOSS HUGO MENSWEAR WOMENSWEAR 78% 7% 15% of Sales of Sales of Sales 3,346 EUR MILLION 280 EUR MILLION 644 EUR MILLION
Slide 104: Global market presence
PAGE 104 HUGO BOSS GLOBAL MARKET PRESENCE AMERICAS EMEA ASIA/PACIFIC 23% 62% 12% of Sales of Sales of Sales 993 EUR million Sales 2,664 EUR million Sales 509 EUR million Sales ~2,200 Points of sale ~5,000 Points of sale ~650 Points of sale 148 Freestanding retail stores 185 Freestanding retail store
Slide 106: Sales by distribution channel
PAGE 106 SALES BY DISTRIBUTION CHANNEL
Slide 107: Retail store network
PAGE 107 RETAIL STORE NETWORK 1,462 TOTAL INCLUDING FREE- NUMBER OF STANDING STORES, RETAIL POINTS SHOP-IN-SHOPS AND OF SALE OUTLETS
Slide 108: Sourcing footprint
PAGE 108 SOURCING FOOTPRINT WELL BALANCED REGIONAL SOURCING & PRODUCTION MIX REGIONALLY BALANCED OWN PRODUCTION COMPLEMENTS STRATEGIC SOURCING MIX THIRD-PARTY SOURCING ACTIVITIES 15% Izmir, Turkey (Largest single Americas source of production) 3% External Sourcing Own Production EMEA Asia 83% 17% 49
Slide 109: Strong organizational set-up
PAGE 109 STRONG ORGANIZATIONAL SET-UP EMPLOYEES IN MANAGEMENT (2025) EMPLOYEE SATISFACTION 78% CONDUCTED ANNUALLY WITH GREAT PLACE TO WORK® GERMANY
Slide 110: Consolidated statement of financial position
PAGE 110 CONSOLIDATED STATEMENT OF FINANCIAL POSITION (IN EUR MILLION) Assets December 31, December 31, 2025 2024 Property, plant, and equipment, intangible assets, right-of-use assets 1,700 1,775 Inventories 918 1,072 Trade receivables 386 362 Other assets 374 364 Cash and cash equivalents 343 211
Slide 111: Multi-year overview: sales
PAGE 111 MULTI-YEAR-OVERVIEW SALES 2025 2024 2023 2022 2021 2020 2019 2018 Sales (in EUR million) 4,270 4,307 4,197 3,651 2,786 1,946 2,884 2,796 Sales by brand BOSS Menswear 3,346 3,329 3,256 2,868 2,181 1,530 2,488 2,422 BOSS Womenswear 280 297 288 239 192 131 HUGO 644 682 653 545 413 285 396 374
Slide 112: Multi-year overview: P&L, balance sheet and other key figures
PAGE 112 MULTI-YEAR-OVERVIEW P&L, BALANCE SHEET AND OTHER KEY FIGURES 2025 2024 2023 2022 2021 2020 2019 2018 Results of operations (in EUR million) Gross profit 2,626 2,660 2,581 2,256 1,721 1,187 1,875 1,823 Gross margin in % 61.5 61.8 61.5 61.8 61.8 61.0 65.0 65.2 EBIT 391 361 410 335 228 (236) 3
Slide 113: Our share
PAGE 113 I OUR SHARE
Slide 114: Share price performance fiscal year 2025
PAGE 114 SHARE PRICE PERFORMANCE FISCAL YEAR 2025 140 +24% 120 +23% +20% 100 80 -19% 60 01 02 03 04 05 06 07 08 09 10 11 12 HUGO BOSS Core Peers MDAX DAX 1 Burberry Group plc, Capri Holdings Ltd., G-III Apparel Group, Guess Inc., Levi Strauss & Co., Moncler Group, PVH Corp., Ralph Lauren Corp., SMCP
Slide 115: Shareholder structure
PAGE 115 SHAREHOLDER STRUCTURE SHAREHOLDER STRUCTURE INSTITUTIONAL INVESTORS AS OF DECEMBER 31, 2025 (FREE FLOAT) BY REGION (IN % OF SHARE CAPITAL) AS OF DECEMBER 2025 (IN %) Rest of World Own shares 3% PFC S.r.l./Zignago 2% Rest of Holding S.p.A. Europe North TOTAL NUMBER OF 21% America 14% Free fl
Slide 116: Forward-looking statements contain risks
PAGE 116 FORWARD-LOOKING STATEMENTS CONTAIN RISKS This document contains forward-looking statements that reflect management's current views with respect to future events. The words “anticipate”, “assume”, “believe”, “estimate”, “expect”, “intend”, “may”, “plan”, “project”, “should”, and similar expr

Hugo Boss — Investor Presentation (March 2026) on 6ix

Hugo Boss — Investor Presentation (March 2026)

Slide 1: Investor Meeting Presentation

Slide 2: Agenda

Slide 3: From Great to Excellent: CLAIM 5 TOUCHDOWN

Slide 4: Since the launch of CLAIM 5, we achieved record results and rebuilt our brands

Slide 5: We surpassed our original €4B sales target in 2023

Slide 6: We put consumers at the top and turned them into true fans

Slide 7: BOSS and HUGO successfully repositioned

Slide 8: We introduced new brand lines

Slide 9: Invested into quality and craftsmanship

Slide 10: CLAIM 5 made us omnipresent and agile

Slide 11: Key financial achievements of our CLAIM 5 strategy

Slide 12: The world is becoming less global, fragmented and volatile

Slide 13: This is CLAIM 5 TOUCHDOWN

Slide 14: TOUCHDOWN stands for excellence

Slide 15: Our vision, our mission

Slide 16: Three fields of excellence

Slide 17: Brand excellence

Slide 18: Focus on brand elevation and leverage 24/7 lifestyle positioning

Slide 19: From recognized brands to desired brands

Slide 20: High-impact collaborations and partnerships

Slide 21: Drive full-funnel engagement

Slide 22: Activate product-led storytelling

Slide 23: Purpose, relevance, and aspiration

Slide 24: Bold moves to become real women's & men's powerhouses

Slide 25: BOSS Men remains our core business

Slide 26: We built a true 24/7 lifestyle brand

Slide 27: Our focus for BOSS Men

Slide 28: CLAIM 5 modernized BOSS Women

Slide 29: Identity before growth

Slide 30: Our focus for BOSS Women

Slide 31: Sharpen HUGO to reignite relevance and brand heat

Slide 32: HUGO: realign the brand for profitable growth

Slide 33: A seamless blend between HUGO Red and Blue

Slide 34: Our focus for HUGO

Slide 35: Optimizing our product assortment

Slide 36: Distribution excellence

Slide 37: Elevate the global brand experience

Slide 38: Rationalize our store portfolio

Slide 39: Boosting productivity in retail

Slide 40: Lead in wholesale through strategic partnerships

Slide 41: Fuel growth with key franchise partners

Slide 42: Optimize our online business

Slide 43: Strengthen the U.S. and China, build on Europe

Slide 44: The U.S.: profitability before growth

Slide 45: China: lay foundation for future growth

Slide 46: Emerging markets: seize opportunities

Slide 47: Operational excellence

Slide 48: Driving operational excellence along our value chain

Slide 49: Leveraging investments to fuel long-term profitable growth

Slide 50: CLAIM 5 TOUCHDOWN will elevate our operational excellence

Slide 51: Financial ambition

Slide 52: Our future model for shareholder returns

Slide 53: Brand excellence: drive brand elevation and gross margin

Slide 54: Distribution excellence: more selective, drive profitability

Slide 55: Operational excellence: lift margins and cash generation

Slide 56: Sales: 2026 refocus

Slide 57: Sales: 2027 grow, 2028 accelerate

Slide 58: Gross margin improvements targeted through 2028

Slide 59: Levers for operating leverage: retail efficiency

Slide 60: Levers for operating leverage: marketing effectiveness

Slide 61: Levers for operating leverage: lean back-office

Slide 62: EBIT development in 2026 impacted by sales decline

Slide 63: EBIT recovery to start in 2027

Slide 64: Capital expenditure

Slide 65: Trade net working capital

Slide 66: Enhancing inventory efficiency

Slide 67: Focus on free cash flow generation

Slide 68: Our capital allocation framework

Slide 69: Financial leverage

Slide 70: Our long-term commitment to shareholders

Slide 71: Sustainable throughout

Slide 72: Our sustainability strategy updated in 2026

Slide 73: Strong sustainability performance: ESG ratings & rankings

Slide 74: Full year 2025 results

Slide 75: HUGO BOSS responds to global uncertainty with agility and clarity

Slide 76: Strategic highlights

Slide 77: Total member base > 13M

Slide 78: BOSS menswear records robust growth

Slide 79: Refinement of BOSS womenswear and HUGO initiated