The Hamm Reno Group has acquired a majority stake in Surf4shoes, a German-based online retailer of branded footwear in the medium price segment, offering brands like Tamaris, Bugatti, Rieker, Geox and Mustang, which recorded total sales of about €30 million last year. The move, which has been cleared by anti-trust authorities, was described as an important step in the development of an omni-channel capability by the German shoe retailing group, which owns Reno.
As part of this strategy, the HR Group launched a new online store for its Reno chain of shoe shops that perfomed well in the last 24 months. It plans to invest more in digital marketing and sales in the future. With the acquisition of Surf4shoes, the group expects to widen the range and the depth of its online offer, while giving customers a new channel to choose from. Synergies will be generated in the areas of purchasing, logistics and information technology.
Surf4shoest markets its products mostly via online platforms like Zalando, Amazon and About You. Details of the purchase agreement were not reported. Manfred Faigle, who founded Surf4shoes in 2006, will continue to run it as managing partner.
The HR Group is one of the largest shoe wholesalers and retailers in Germany with more than 130 years of experience in the shoe retail business. The group employs about 4,000 people and is represented in 20 countries. It operates roughly 400 stores in Germany and abroad. It reported total sales of €500 million for last year.