Sales at Hugo Boss have returned to strong growth in China in June and global online sales jumped 74 per cent in the second quarter.
The news comes even as the German fashion house reported an overall 59 per cent fall in sales for the period due to lockdowns.
Analysts at Baader Helvea noted the company was particularly exposed as people have been shifting to more casual wear during the coronavirus pandemic, cutting demand for the smart suits for which it is particularly known.
Hugo Boss reported quarterly revenue of €275M, missing an average analyst forecast for €288M, while its operating loss of €124M was ahead of consensus for a loss of €133M.
The company said it had seen a less pronounced fall in sales of casual wear and “athleisure” than in formal wear, with products like t-shirts, polo shirts, trousers and lounge wear proving their resilience.
Hugo Boss is currently led by Finance Chief Yves Mueller after Mark Langer stepped down as CEO. Daniel Grieder, the former CEO of Tommy Hilfiger Global & PVH Europe, is due to take over as CEO on 1 June next year.
