World Footwear

Companies

Deichmann to invest 500 million euros by the end of the year

Apr 6, 2023 Germany
Deichmann to invest 500 million euros by the end of the year
The shoe retailer plans to invest 500 million euros in 2023 to modernize its store network and open new ones, as well as to boost its international expansion, digitization and logistics capability
Concerning its store network, Deichmann is planning to open around 200 new stores around the world, with a “particularly strong growth” planned for Italy – pointed out Heinrich Deichmann, Chairman of the Management Board – “where around 30 new stores will be opened as part of the ongoing expansion programme”. Additionally, its franchise partner Azadea Group, a Lebanese group focusing on the Middle East and Africa, is due to open the first stores in Abu Dhabi and Saudi Arabia this year, following the successful market entry in Dubai in 2019, Kuwait in 2020 and Qatar and Oman in 2021/22.

The group also announced that 450 stores groupwide will be modernized by the introduction of a “new store design concept with a modern look, a spacious feel, soft colours and plenty of room for sports articles”, with a sneakers display of brands such as adidas, Nike, Puma, FILA, Reebok, Asics and Skechers. “Sport is still one of our focus topics”, he added.

Furthermore, the expansion of its omnichannel strategy is also in the pipeline for 2023. For instance, the German-based retailer is planning to expand its digital foot measuring device that helps determine shoe sizes more exactly to all its stores. Currently, this service is only available at around 120 stores in Germany.

At last, Deichmann will continue expanding its brand portfolio. “We have seen the success of new brands as part of our portfolio. For example, our range now also includes selected models of the popular New Balance brand”, commented Heinrich Deichmann, while revealing that Rieker and Airwalk models will become a “new addition” to the company’s range.

These investments for 2023 follow record results achieved last year. In 2022, Deichmann's sales grew by 17.4%, year-over-year, reaching 8.1 billion euros. This “positive development was driven by growth at the own stores and online shops, as well as successful acquisitions, for example in the USA”, reads the company’s statement. In Germany, the group's sales amounted to 2.5 billion euros last year, up from 2.1 billion euros in the prior year, with like-for-like sales growing by almost 9%.


Image Credits: serdikacenter.bg

Related Events

  • Jun
    3
    Jun 3-Jun 5, 2024 | Munich, Germany

    ISPO Munich

  • Jul
    4
    Jul 4-Jul 5, 2024 | Berlin, Germany

    Seek

  • Jul
    26
    Jul 26-Jul 29, 2024 | Düsseldorf, Germany

    Supreme W&M Düsseldorf

  • Jul
    27
    Jul 27-Jul 29, 2024 | Düsseldorf, Germany

    Neonyt Düsseldorf

Related Organizations

  • PFI Germany -  Test and Research Institute Pirmasens

    PFI Germany - Test and Research Institute Pirmasens

    Germany
  • LGR - Leather Institute Tanning School Reutlingen

    LGR - Leather Institute Tanning School Reutlingen

    Germany
  • IVO - International Association for Orthopaedic Shoe Technicians

    IVO - International Association for Orthopaedic Shoe Technicians

    Germany
  • BTE - Trade Association of Textile, Shoes and Leathergoods

    BTE - Trade Association of Textile, Shoes and Leathergoods

    Germany