The Power of a Comeback
Daniel Grieder
CEO, Hugo Boss
After more than 20 years of experience at Tommy Hilfiger, Daniel Grieder took over the reins at Hugo Boss in the summer of 2021. In his keynote, the CEO talks about the state of the brand at that time, how he achieved a 180° turnaround with the help of sports and David Beckham, and what DNA Hugo Boss now characterizes.
These are his best GMPLN quotes.
The Brand lost its relevance for the younger consumer.
In the summer of 2021, HUGO BOSS was at its low point: more than €200 million in losses, a fading brand image, declining brand relevance among young consumers, and the brand lagged in digital. The future felt anything but fashionable. But Grieder, a huge sports fan, focused on the brand's potential and worked on a comeback.
We wanted to turn consumers into fans.
The focus of all activities needed to be on the consumer. However, that wasn't the end of it; the ultimate goal was to turn consumers into brand fans. Fans who remain loyal, build a relationship, and are rewarded for doing so. And the figures show that this step was a success. Revenue increased from €1.9 billion in 2020 to €4.3 billion in 2024.
Hugo Boss isn't a brand anymore; it's a platform with the two brands Hugo and Boss.
Hugo Boss underwent a brand refresh, resulting in the Hugo and Boss brands. While Boss (“be your Boss”) focused on millennials, Hugo (“u go”) targeted Gen Z. In addition to their different target groups, both brands represent different lifestyles and pursue different marketing approaches. The new approach not only paid off on social media (over 11 million new followers since 2021), but new partnerships in sports (skiing, Formula 1, tennis, etc.) also contributed to the success.
That's the guy we need. He connects fashion and sport.
After Grieder saw the documentation "Beckham", he immediately knew that he wanted to partner with him. The brand signed a multi-year design collaboration, and it has already worked out:
The latest bodywear campaign with him generated 3 billion impressions across all channels, +11% in media impact value, and a record high in sales. As Grieder stated: I don't know how he's doing, but everybody loves him.
We had to turn our employees into fans in the first place.
Speaking of success, employees are always the foundation for it, as Grieder emphasized. They needed to trust him with his new strategy, and he wanted them to become fans of the company. So Hugo Boss invested in the campus in Metzingen and in the people themselves.
These adjustments created a new mindset inside the company, with similar attitudes to those in sports.
