The German Schuhe24 Group, which includes the online platforms Schuhe24 for footwear, Sportmarken24 for sports products, Outfits24 for clothing and Taschen24 for handbags, reports a new record for the 2019 financial year with sales of €75 million. With a sales increase of 36 percent as compared to the previous year, the company again achieved a double-digit growth.
As in previous years, the number of affiliated retailers on all the group’s portals rose rapidly in 2019, each in a clearly double-digit range, according to the company. In addition, the number of articles per retailer has gone up, helped by the fact that the company was able to introduce a price guarantee for all dealers in 2019, generating more certainty for pricing.
The main growth driver was Outfits24, which was founded at the end of 2018, as the fashion market is much larger than the shoe market and includes more retailers. In 2019, it established numerous new partnerships.
The group’s sales growth was accompanied by numerous investments. These include a new central warehouse, the launch of Outfits24 and Taschen24, and the development of new services for affiliated retailers. It completed its investment in a Berlin-based online brand marketing and networking platform, We Want Shoes, last year (Shoe Intelligence Vol. 20 N° 21+22 of Nov. 27, 2018).
For the current fiscal year, the company plans to reach the target of €100 million in sales. Schuhe24 plans to support its affiliated retailers with the launch of analytical tool that will make use of millions of customer data to show regional sales trends.