Snipes, a subsidiary of Deichmann, is pursuing its expansion plan, reportedly aiming to open 40 new shops by the end of the year. The footwear retailer opened 19 shops in 2013, then 30 in 2014. Snipes operates mostly in Germany, where it is headquartered, but is also present abroad. In 2007 it opened its first shops in Austria, and Switzerland came in 2014. The retailer opened its first shops in the Netherlands earlier this year, with new boutiques in Utrecht, Eindhoven and Rotterdam.
Founded in 1998 by its current general manager, Sven Voth, Snipes has today a total of around 100 branches, mostly located in busy streets. About 60 percent of its revenues originate from the sale of sneakers, while the rest is generated by clothing and accessories. In terms of styles, Snipes sells streetwear, urban fashion, sports action and casual fashion.
Deichmann took a majority stake in Snipes in 2011 through its Swiss subsidiary Deichmann-Ochsner. In 2014 Snipes started its e-commerce operations. Snipes posted revenues of €72 million in 2013, up by 53 percent as compared to 2012. Net profit stood at €4.2 million.