Deichmann Marks Record Revenue of €8.7 Billion in 2023 Amidst Strategic Investments and New Campus Development on 111th Anniversary
8 April 2024
Europe's largest footwear retailer, Deichmann, celebrated its 111th corporate anniversary with optimism, closing 2023 with a historic revenue milestone of €8.7 billion. The family-owned company announced plans for group-wide investments totalling around €374 million in modernizing its store network, enhancing IT infrastructure, and optimizing logistics, among other initiatives.
In addition to these investments, Deichmann is constructing a cutting-edge building at its headquarters in Essen, featuring offices and expansive meeting spaces to accommodate its growing workforce. This new campus symbolizes the company's positive trajectory over the decades and underscores its commitment to future growth.
During the past fiscal year, Deichmann SE achieved gross revenue of €8.7 billion (net €7.4 billion) across 34 countries, with a currency-adjusted revenue growth exceeding 7%. The company sold approximately 184 million pairs of shoes globally through its stores and online platforms, marking a 1.4% increase compared to 2022. By the end of 2023, Deichmann operated around 4,700 stores (compared to just under 4,600 in 2022) and maintained 41 online shops, employing slightly over 49,000 individuals (compared to approximately 48,000 in 2022).
“2023 was a challenging year for the Deichmann Group, but it was also a successful one,” said Heinrich Deichmann, Chairman of the Management Board of Deichmann SE. “Our collections and the top brands we retail at convincing great-value prices are exactly what our customers are looking for. They have enabled us to buck the general market trend and achieve growth in the stores and online. Despite difficult market conditions, including high inflation, consumer restraint and shifting customer preferences, the Deichmann Group’s revenue rose by more than seven percent to 8.7 billion euros last year. Like-for-like revenue, which is revenue at our existing stores, also increased by five percent. This is an outstanding international achievement that we accomplished with the support of our fantastic sales, logistics and administration teams.”
