After reporting losses in the second quarter, German fashion giant Hugo Boss recorded €15 million operating profit in the third quarter. However, the brand’s quarterly revenue fell by 24 per cent on a currency-adjusted basis to €533 million, says Fashion Network.

The company’s digital and Chinese focus is perfectly understandable given that sales in mainland China rose 27 per cent during the quarter and online sales saw a massive leap of 66 per cent as the company opened 24 more markets to e-tail sales between June and August.

And while physical stores remained challenged, the company was upbeat. With the vast majority of its own stores back in operation, the group’s own retail business recorded a considerably more robust performance compared to the first half of the year, with own retail revenues down by only 20 per cent, currency-adjusted.

However, while local demand in key markets picked up noticeably, sales to touristsdropped by 21 per cent in Europe despite encouraging signs of demand bouncing back in key markets such as the UK and France.