Footwear retailer Deichmann has reported “strong” sales growth in the UK for the 2023 financial year as it plans to expand its UK store footprint.
In a new filing to Companies House for Deichmann’s UK arm of the business, the footwear retailer reported a 14% increase in turnover from £121.7m to £139.1m for the full year to December 31, 2023.
Losses at the business also narrowed for the year down from £3.25m last year to a net loss of £1.29m.
Deichmann said its online sales soared 14% during the year as it invested in the improvement of its brand awareness via its marketing channels.
Deichmann hailed its “great value prices, brand diversity, and fashion expertise” for its success in 2023 as it continues to target footwear for the whole family.
The retailer also hailed its brand portfolio and affordability for a “strong” performance amid a “challenging market environment.”
The footwear retailer said it plans to continue investing in the growth of the brand in the UK in 2024 and beyond which includes introducing new technology to its stores and ramping up its marketing efforts.
Deichmann said it has plans for “continued retail expansion” but did not confirm the number of stores it is eyeing up.
Deichmann UK managing director Simon Wilson said: “2023 saw many challenges for Deichmann in the UK but also a lot of successes.
“We continued our store expansion with nine new stores opening including our first Northern Irish store in Belfast. We also refitted eight of our current stores including Basingstoke which had a £500k investment and grew from 365 sq m to 570 sq m in size.
“Our dedicated teams and the excellent customer service provided by the staff have helped to maximise sales. We’re grateful for all the hard work and effort demonstrated by our teams to keep the business serving our customers, and we’re excited for the year ahead.”
Deichmann said that trading in 2024 has been “positive” to date, and it has already reopened its flagship store at Westfield London this year following a £1.3m investment.
The footwear retailer has also launched new lines with brands including Levis, Buffalo and Hey Dude, as well as collaborating with author and podcaster Giovanna Fletcher.
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