Net revenue for the year totalled €7.4 billion with just over 7% currency-adjusted growth over the previous year. Like-for-like revenue was up 5%.

In 2023, Deichmann sold 184 million pairs of shoes worldwide, an increase of 1.4%, while stores were up by 100 for a total of 4,700. It also ended the year with 41 online shops and over 49,000 employees.

Gross revenue in Germany was up around 9% to €2.8 billion in 2023, with sales of 70 million pairs of shoes across 1,400 stores, up almost 3%. Around 68% of the company’s revenue came from abroad, with particular strength in Switzerland, Austria and Turkey.

Looking forward to 2024, the company is planning investments totalling €374 million with a total of 450 new and remodelled stores planned for the year.

Deichmann Chairman Heinrich Deichmann said: “2023 was a challenging year for the Deichmann Group, but it was also a successful one. Our collections and the top brands we retail at convincing great-value prices are exactly what our customers are looking for. They have enabled us to buck the general market trend and achieve growth in the stores and online.

“Despite difficult market conditions, including high inflation, consumer restraint and shifting customer preferences, the Deichmann Group’s revenue rose by more than 7% to €8.7 billion last year. Like-for-like revenue, which is revenue at our existing stores, also increased by 5%. This is an outstanding international achievement that we accomplished with the support of our fantastic sales, logistics and administration teams.”