WORTMANN NOTES GROWTH
03.12.2014 9262

WORTMANN NOTES GROWTH

The Wortmann group from the German Detmold, known for the popular Tamaris brand, again increased its turnover by 0,2%. Thus, for the reporting year 2013/14, the company's turnover amounted to 1,013 billion euros as of May 31, 2014. A year ago, the total turnover of the Wortmann group of companies amounted to 1 010,6 million euros. The company's export share has not changed and amounts to 53,2%.

The most positive development was observed in European markets, in particular in France, Benelux countries and the UK. Greece also pleased with the increase in turnover. Expectations for Eastern Europe indicators in the second half of the year were not met. The performance of private labels by Novi Footwear from Singapore / Hong Kong (Asia) on the international market continued to decline, due to the dynamics of the exchange rate. This fact sharply reduced the overall high performance of the entire group of companies. A recent US subsidiary of Tamaris Inc. begins sales of the autumn-winter collection 2015 autumn 2014. The Wortmann fashion collections are sold in over 70 countries and over 15 shoe stores.

Contrary to weather and forecasts

The weather conditions of the last winter season in Europe negatively affected both the shoe and textile industries, which complicated the business as a whole and significantly reduced the buying activity of the final consumer. In contrast, the share of shoe sales in online stores continued to grow, which also had a positive effect on Tamaris online stores. The company directs all its efforts to maintaining a multi-channel sales system, the purpose of which is to combine stationary and digital retail outlets.

Tamaris system partnership, which has been successfully developing the concept of managing monobrand stores by partners for more than 10 years, totals today 946 areas (845 areas last year) in 32 countries of the world. Thus, the total area growth was 12%. Of these, 299 Tamaris single-brand stores (253 last year, plus 18%) and 647 branded zones (592 last year, plus 9%). The share of foreign space is about 45%.

Growing companies

This year, the group of companies makes major investments in infrastructure. At the end of this year, Wortmann will open a branded retail store at the Detmold site. Construction work is proceeding according to plan and by the end of November a store opening is planned. The volume of investments to open the store is about 5 million euros.

The next 4 million euros the group of companies invests in the expansion and equipping of buildings for administration and management. The development of the company and the expansion of business operations and turnover over the past decades require a significant increase in modern office space. Expanding the existing office space, the company creates 140 additional jobs. At Pirmasens, Captice's Wortmann subsidiary is optimizing its logistics system. To do this, the company invests about 3 million euros in Pirmasens and opens a new warehouse of raw materials and materials, as well as constructing premises for training courses.

Financial performance

The Wortmann Group is one of the European market leaders in the production and distribution of footwear. The company generated total sales of 52,6 million pairs for the current fiscal year, of which approximately 31,6 million pairs of shoes are in the fashion segment and approximately 21 million are in the standard segment. The company is considered the market leader in fashionable women's shoes in Europe. In addition to the well-known Tamaris brand, the group of companies includes such brands as Marken Marco Tozzi, Caprice, Jana and s.Oliver shoes. In addition, Novi Footwear Fareast Ltd. is active in Asia. Wortmann has eight of its own offices in Europe, eleven in Asia and one in the United States. Worldwide, the company employs 1 employees (last year - 114), of which 1 are in Europe. Around 092 workers are employed in the production of footwear for the Wortmann group of companies worldwide.

The total investment amounted to 16,5 million euros, which corresponds to the level of the previous year. The income level for the last reporting year is estimated as satisfactory. Given the high share of equity in the amount of more than 75%, without exception, all investments are made from equity. The company does not take bank loans.

The current 2014/15 fiscal year is evaluated at the head office in the city of Detmold with restraint. Recent events in Eastern Europe in such important markets for the Wortmann group as Russia and Ukraine do not allow drawing far-reaching conclusions. Nevertheless, based on the orders placed to date, an increase in turnover is expected compared to last year.

The Wortmann Group from Detmold, Germany, known for the popular Tamaris brand, increased its turnover again by 0,2%. Thus, for the reporting year 2013/14 the company's turnover amounted to 1,013 billion ...
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