Deichmann to enter three new markets next year, forecasts strong sales growth in 2005

27 Dec '05

1 min read

German shoe retailer Deichmann Schuhe GmbH & Co KG forecasted a “significant” increase in sales for 2005 as it announced to enter three new markets next year.

The Essen-based company reported it would open first stores in Turkey, Sweden and Croatia in 2006. It will also enter Slovenia a year later and is also set to start business in Russia in the medium term.

The company in its home market alone will open 200 new stores next year making number of stores to 1,200. Presently, it employs some 22,000 people in 2,000 stores in 12 countries.

Last year, Deichmann sold 90 million pairs of shoes in its stores and reached sales of €2.2 billion. The company, this year, anticipates selling 100 million pairs of shoes and forecasting a strong rise in sales. It imported 54 million pairs of shoes from 40 countries in 2004.

The company stated, "It is impossible to produce comparable products in Europe. The shoe industry in Western Europe has specialized in making luxury products and is no longer capable of offering the volumes produced in countries like China and Vietnam."

More Fashion News - Germany...