Hugo Boss’s Q4 and full-year results on Thursday talked of a “strong performance” during the quarter, with profitability set to increase “despite challenging market conditions”.
Naomi Campbell – Boss
The company appeared to rebound in Q4, but said that the current quarter remains muted and its expectations for the full year are for sales that might rise a little but that might fall.
More of that later. For now, let’s look at the past year and quarter. Currency-adjusted group sales for the year increased 3% to a record €4.3 billion in 2024, fuelled by a 6% Q4 rise.
That came after the company had clearly struggled earlier in 2024 with Q3 currency-adjusted sales, for instance, having been up only 1% and the business having issued an earlier profit warning.
In the past three months the company saw “accelerating momentum in the Americas” with full-year sales up 8% but Q4 rising 13%, and in EMEA those figures were up 3% and 6% respectively.
However, Asia/Pacific was down 2% in both the year and the quarter, “impacted by subdued consumer demand in China”. That’s clearly not showing any signs of bouncing back just yet.
Back with the positives, the company said it saw “robust revenue improvements in brick-and-mortar wholesale” with the year up 8% but Q4 rising 11%, and physical retail returned to growth with a flat figure for the year as a whole but a 2% rise in Q4.
It also saw gross margin improvements of 30bps for the year and 90bps for the quarter, “driven by substantial efficiency gains in sourcing”.
Earnings before interest and tax (EBIT) fell to €361 million from €410 million, “impacted by retail impairments”, but free cash flow jumped to €497 million in 2024 from €96 million in 2023, “fuelled by improvements in trade net working capital and CapEx efficiency”.
Net income was down to €223.6 million from €269.8 million a year earlier.
As for its expectations for 2025, it said the “macroeconomic and geopolitical volatility [will] remain elevated, with business performance impacted by subdued consumer sentiment”.
David Beckham – Boss
Group sales should be anywhere from down 2% to up 2% but EBIT should rise between 5% and 22% to €380 million-€440 million.
CEO Daniel Grieder was cautiously upbeat, saying: “Since 2021… we have made significant progress on our strategic journey and delivered above-trend growth. In 2024, we continued our growth trajectory, hitting record sales, supported by a strong performance in the final quarter. This success underscores the increased relevance of Boss and Hugo and highlights the great potential of our two brands.
“Yet the macroeconomic challenges intensified in 2024 and led to a sharp industry slowdown. We therefore focused even more on customer centricity and on our most impactful initiatives. From welcoming David Beckham for a multi-year partnership with Boss to unveiling our new denim line Hugo Blue and launching our new customer loyalty programme Hugo Boss XP, we kept customers inspired and engaged throughout the year.
“We have not only capitalised on our growth opportunities, but also placed equal emphasis on improving cost efficiency. And I am very pleased that we made substantial progress in the second half. We managed to unlock meaningful productivity gains, which effectively limited expense growth and supported our bottom-line development. At the same time, we generated strong free cash flow in 2024, highlighting the strength of our business model.”
He reiterated that the firm’s “focus on delivering profitability improvements is sharper than ever. The solid foundation we have built over the past years fills us with confidence in our ability to succeed. At the same time, macroeconomic and geopolitical volatility remains high, weighing on consumer sentiment and impacting our business performance since the beginning of the year. Against this backdrop, we stay focused and vigilant, closely monitoring global market developments.”
Very Group has launched the first multicategory campaign for its Haus of Flamingo concept, moving it beyond just womenswear. The travel-focused two-part TV-focused campaign, called ‘The Departure’, aims to inspire the desire for shopping spring looks with the digital retailer releasing the second phase later this spring.
The campaign also offers a timely introduction of new fashion categories as the Haus of Flamingo umbrella branches out from womenswear “to reflect customer shopping habits”.
In addition to women’s must-haves, the campaign showcases products from menswear and kidswear, as new data from the online retailer reveals “a significant 40% of its fashion customers are shopping cross-category”.
Telling a story of escaping the dull, grey winter “and flocking to the ever-fabulous Haus of Flamingo”, the new ad is set in a stylised airport environment, “making recognisable airport moments look chic”.
An overweight bag also provides an “opportune moment to elevate an outfit”, while the security gate “is the perfect time for Very’s signature flamingo pose”.
The Departure campaign features a hero 30-second TV advert, along with cut-down versions, including a Very Pay bespoke asset, mens and kids stand-alone assets and an extensive suite of social-first content.
The ad was produced by Kode and directed by Lu Xiao Wei and includes a selection of stills captured by photographer Aura Skulskytè.
It will run in the UK and Ireland, across TV, VOD, social media, press and online.
Very Group said: “Haus of Flamingo has had a flying start since launching in summer 2024, driving strong brand attribution and greater distinction. This has driven an impressive 10% uplift in brand consideration across the retailer’s womenswear category.”
Jessica Myers, chief customer officer at The Very Group, added: “We’re now rolling the [Very] platform out across our other fashion categories to really showcase our amazing multi-category offering which we know is important to our customers as it gives them the ease of buying for themselves and their family all in one place.”
She added: “Cutting through the sea of sameness in the women’s fashion space is hard, but Haus of Flamingo does exactly that, with data showing we’re on to a winner. The Departure encourages customers to free their inner flamingo, empowering them to express their confidence and unique sense of style.”
And the merry-go-round of creative directors continues. On Thursday, Capri Holdings announced big news — Versace’s chief creative officer Donatella Versace is stepping down from that role and will assume the new role of chief brand ambassador.
Dario Vitale – ph Stef Mitchell – Lowres
Stepping into her shoes? Capri CEO John D Idol said that “Dario Vitale will be joining the House of Versace as its new chief creative officer. He is a strong design leader, and we are confident that his talent and vision will be instrumental to Versace’s future growth”.
Formerly design and image director at Miu Miu, he takes up the post on 1 April with his predecessor saying that “championing the next generation of designers has always been important to me. I am thrilled that Dario Vitale will be joining us, and excited to see Versace through new eyes”.
There was no mention of the possible sale by Capri of the Versace business nor of whether Prada might end up as its eventual owner. It’s certainly interesting that Vitale comes from Prada-owned label Miu Miu. Reports earlier this month suggested Prada was moving closer to a deal to buy it for almost €1.5 billion.
Vitale himself said he’s “truly honoured to join Versace… and to be a part of this special and powerful fashion luxury House created by Gianni and Donatella. The House of Versace has a unique heritage that has spanned decades and has shaped the history of fashion. I want to express my sincere thank you to Donatella for her trust in me, and for her tireless dedication to the extraordinary brand that Versace is today. It is a privilege to contribute to the future growth of Versace and its global impact through my vision, expertise and dedication.”
It’s a big change for the business with Donatella having been in creative control since the death of her brother and label founder Gianni Versace in 1997.
She will now “dedicate herself to the support of Versace’s philanthropic and charitable endeavours and will remain an advocate for the brand globally”.
Donatella Versace
Clearly the company isn’t one that favours a rapid turnover of creative directors and Capri chief Idol added that the latest changes are “part of a thoughtful succession plan for Versace”.
Donatella also said: “I want to thank my incredible design team and all the employees at Versace that I have had the privilege of working with for over three decades. It has been the greatest honour of my life to carry on my brother Gianni’s legacy. He was the true genius, but I hope I have some of his spirit and tenacity. In my new role as chief brand ambassador, I will remain Versace’s most passionate supporter. Versace is in my DNA and always in my heart.”
Meanwhile CEO Emmanuel Gintzburger paid tribute to the outgoing creative chief and her successor, saying: “Versace is what it is today because of Donatella Versace and the passion she has brought to her role every day for nearly 30 years. I am confident in the company and where it stands today, as we are well-prepared for the organisation to write this new chapter for the house. Dario Vitale is a rare talent, who deeply respects the essence and values of Versace and clearly understands it’s growth potential. We are convinced that his experience and vision will bring a new perspective to the brand.”
After a four-year hiatus, Guy Laroche is reclaiming its place on the Paris fashion scene. The luxury house, which had remained largely silent since the pandemic, marked its return with an exclusive cocktail event at the Hôtel de Crillon on the final day of Paris Fashion Week, March 11. The occasion served as the launchpad for Mathilde Castello Branco, the newly appointed creative director, who unveiled her first ready-to-wear collection—a sophisticated, versatile wardrobe deeply rooted in couture craftsmanship and proudly made in France.
Mathilde Castello Branco – ph Marc Philbert
To reignite its ready-to-wear line, Guy Laroche turned to a seasoned designer with an impressive background in luxury fashion. Trained at École Duperré and Atelier Chardon-Savard, Mathilde Castello Branco began her career at Hermès, working under Martin Margiela, before spending a decade at Lanvin alongside Alber Elbaz.
Her expertise expanded further as she took on creative leadership roles at Azzaro (2011-2012), Princesse tam.tam (2013-2016), and Weill (2017-2021). Most recently, she dedicated herself to a personal project, crafting a wardrobe built around hand-painted silk pieces.
“Stepping into a house with such a rich heritage is a privilege,” says Castello Branco, who took over the Guy Laroche studio just over two months ago. With her first collection, she laid the foundation for a modernized vision of the brand—one that makes women’s lives easier without compromising elegance.
Her approach focuses on versatility, creating timeless pieces that seamlessly mix and match, allowing women to effortlessly adapt their looks. The fourteen silhouettes presented can transform into twenty-eight outfits. At the same time, accessories—including shoes, berets, and glamorous gloves—are crafted from the same fabrics as the garments, ensuring a cohesive total look.
“The clothes are meant to be played with, to be owned by the woman wearing them. It’s all about mix and match,” explains Castello Branco, who sourced flannel, lightweight wool, plongé lambskin, and silk mousseline from France, Italy, and England, while the denim comes from Japan. Production is handled by the Lyon-based atelier Grain de Tailles, led by Alexandra Berthet and Sophie Plaindoux, specialists in tailoring and wool craftsmanship.
A look from Guy Laroche fall-winter 2025/26 – ph DM
Every piece in the collection is precisely cut and thoughtfully designed. The iconic shirtdress, initially created by Guy Laroche, has been reimagined as a coat dress for fall-winter 2025/26. A cape features a reversible plaid design, offering two hand openings and a hidden gusset with a zipper, allowing the wearer to adjust its volume. A flannel top transforms into either a zippered jacket or a billowy blouse, depending on how it’s worn. Another clever design? A pleated skirt and top duo that comes together as an elegant silk jersey evening dress.
Innovation extends to the smallest details: a gray flannel dress conceals invisible pockets seamlessly integrated into its flap design. A skirt with a back zipper lets the wearer adjust the slit height, while an ultra-delicate mousseline corsage fastens with hidden snap buttons.
“Couture is essential, but it should never feel forced,” says Castello Branco, who is committed to reviving French elegance with a short supply chain and a 100% made-in-France production model.
“It’s a fusion of couture and ready-to-wear,” adds CEO Hendrik Penndorf.
Established in 1957, Guy Laroche built its reputation in haute couture, shaping the elegance of its era. Since its 2004 acquisition by Hong Kong-based YGM Trading, the brand has leaned heavily on licensing, with handbags, watches, jewelry, and eyewear driving much of its revenue. Now, with a fresh creative direction, Guy Laroche is making a bold move to reclaim its place at the forefront of luxury fashion.