Hugo Boss AG

BOSS: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€52.00	Wnsrtc	Vgcvdrzcg

Hugo Boss Sales Growth Strong on Brand Momentum; Inventory Buildup a Concern

Jelena Sokolova

Nov 2, 2023

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 (65% of sales), should allow the company to generate average returns of 10%, above our 9% cost of capital estimate over the mid- to long term.

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