German fashion brand Hugo Boss has taken steps to expand its online presence by adding 12 new markets to its webstore. The new markets include Bahrain, Egypt, Estonia, Kuwait, Latvia, Lithuania, Oman, Russia, Saudi Arabia, South Korea, Turkey, and the United Arab Emirates, bringing the total number of online markets for the brand to 59.
This move follows Hugo Boss’s significant expansion of its online portfolio in 2020, during which it added 32 new national webstores in response to the surge in online shopping due to the COVID-19 pandemic. The brand achieved online sales of over €200 million for the first time in 2020, reaching €221 million. This success was driven by the expansion of hugoboss.com and the growth of the online concessions business.
With the addition of these new markets, Hugo Boss aims to further increase its own online sales to over €400 million by 2022. The brand anticipates that the trend of increased online shopping will continue in 2021, setting a target of reaching €300 million in online sales by the end of the current financial year.
Matthew Dean, the Director of Global E-Commerce at Hugo Boss, expressed confidence in the investments made in the online business, stating that momentum is building. By expanding its e-commerce network globally, the brand aims to meet the changing shopping behavior of its customers, who are increasingly turning to online shopping. Hugo Boss believes that the gradual expansion of its online business will attract even more customers worldwide to its renowned brands.
The fashion industry has experienced a significant shift towards online shopping in recent years, and the COVID-19 pandemic has only accelerated this trend. Brands like Hugo Boss have recognized the importance of establishing a strong online presence to meet the evolving demands of consumers. With the addition of these 12 new markets, Hugo Boss is positioning itself for further growth in the e-commerce sector and aims to become a leader in online fashion retail.
Useful links:
– Hugo Boss Official Website
– Statista – Online Shopping Market Growth Statistics
