World Footwear


Stable is the word for Deichmann in 2018

Mar 15, 2019 Germany
Stable is the word for Deichmann in 2018
Shoe retailer Deichmannn reported growth in 2018 despite difficult market conditions. The group of companies is reporting a plus both in the number of shoes sold as well as in turnover
In the past financial year, Germany-based Deichmann generated a gross turnover of 5.8 billion euros (net of 5 billion euros) in 25 European countries and the US. The currency-adjusted turnover increase reached 2%. In 2018, 178 million pairs of shoes were sold worldwide in the stores and via the group’s online shops – just under 1% more than in the previous year. Like-for-like, the turnover remained stable with a slight plus of 0.1%. The Deichmann Group generates 60% of its turnover outside of Germany.

As of the 31st of December 2018, the retailer was running 4 053 stores (3 989 in 2017) as well as 40 online shops (36 in the previous year) and employed 40 698 members of staff (growing from 39 564 in 2017).

“2018 was a very difficult year for fashion retail in Europe. The persistently warm weather in particular had a negative impact on sales”, commented Heinrich Deichmann, Chairman of the Management Board of Deichmann, adding: "Under these conditions, we have successfully managed to keep the group stable and bucked the industry trend to achieve growth (...) In times like these, what sets us apart is the fact that we focused on e-commerce early on and are still further developing our omnichannel activities now”.

Investments at record level

Against the backdrop of the current economic situation, extensive growth plans are also on the agenda for 2019. The planned investments for the entire group amount to 285 million euros, a record high. 102 million euros of this total will be allocated to Germany. Investments will be made both in the modernisation of the store network and the opening of new bricks-and-mortar stores, as well as in internationalisation and digitalisation. For 2019, the group is planning on opening 229 new stores worldwide and modernising 256 stores. In the first half of 2019, Deichmann will also be launching in China where it will offer a selection of its range online via the platform T-Mall Global. For the current year, plans are also being made to enter the Estonian and Latvian markets with the Deichmann concept. The MyShoes format, currently represented in Germany, Austria and Switzerland, will undergo further internationalisation with the first stores opening in Poland shortly.

Growth in the USA

An acquisition has already been completed in the USA. There the Deichmann Group has taken over KicksUSA, a business established in 2002 in Philadelphia and currently running 64 stores on the East Coast. In the future, the stores of the label will be managed under the SNIPES brand. SNIPES has been part of the Deichmann Group since 2011 and has been continually expanding ever since. SNIPES meanwhile runs more than 230 stores in nine European countries and appeals to a similar target group as the recent American acquisition: “We have made a considerable investment in the USA because, backed by our many years of market knowledge, we are convinced that we can make an impact here, in a segment that promises long-lasting growth”, commented Heinrich Deichmann explaining the greatest acquisition in the company’s history.

Omnichannel concept

On the important German market, the existing online shop is being given a completely new design, both in terms of its technical functions and appearance. Plans are also being made to introduce “Click & Collect”, which allows customers to purchase items from the online shop and then collect them from the branch of their choice. In 2000, Deichmann was the first shoe retailer to launch an online shop. Ever since then the company has consistently further developed its e-commerce into a comprehensive omnichannel offer. The group currently sells its products from 40 of its own online shops and four online marketplaces. Growth rates in this segment remain well in the double-digit range.

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