German shoe retailer Deichmann is investing in China and the US with several initiatives planned for 2019. The acquisition of shoe chain KicksUSA already took place
Against the backdrop of the current economic situation, Deichmann announced it has extensive growth plans for 2019. The planned investments for the entire group amount to 285 million euros, a record high. 102 million euros of this total will be allocated to Germany. Investments will be made both in the modernisation of the store network and the opening of new bricks-and-mortar stores, as well as in internationalisation and digitalisation. For 2019, the group is planning on opening 229 new stores worldwide and modernising 256 stores.
An acquisition has already been completed in the US. There, the Deichmann Group has taken over KicksUSA, a brand established in 2002 in Philadelphia and currently running 64 stores on the East Coast, primarily in the cities of Philadelphia and New York and in the state of New Jersey, as well as an online shop.
In the future, the stores of the label will be managed under the Snipes brand. Snipes has been part of the Deichmann Group since 2011 and has been continually expanding ever since. Snipes meanwhile runs more than 230 stores in nine European countries and appeals to a similar target group as the recent American acquisition. “We have made a considerable investment in the US because, backed by our many years of market knowledge, we are convinced that we can make an impact here, in a segment that promises long-lasting growth”, Heinrich Deichmann commented while explaining the greatest acquisition in the company’s history.
