Hugo Boss AG

BOSS: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€55.00	Rrybd	Rxfgclpwn

Hugo Boss' Sales Growth Should Moderate in Future

Jelena Sokolova

May 1, 2024

Business Strategy and Outlook

We think Hugo Boss’ strong positioning, with almost 10% market share and high brand awareness in the premium menswear category, as well as relatively high share of distribution control (69% of brick-and-mortar sales), should allow the company to generate average returns of 11%-12%, above our 9% cost of capital estimate over the mid- to long term.

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