Deichmann, a German shoe retailer, is investing in China and the United States and is preparing several projects for the 2019 year. One of them, the acquisition of American shoe retail KicksUSA, has already taken place. KicksUSA stores in the future will go under the Snipes brand, which is part of the Deichmann portfolio, writes worldfootwear.com.
Deichmann Group Announced Active Growth Plans for 2019 The planned investments for the entire group will amount to 285 million euros. Of this amount, 102 million euros will be allocated for development in Germany. Investments will go into the modernization of existing chain stores and the opening of new ones, as well as internationalization and digitalization. In 2019, the group plans to open 229 new stores around the world and modernize 256 existing stores.
The first acquisition has already been made in the United States, Deichmann bought KicksUSA, a brand based in 2002 in Philadelphia. The KicksUSA retail chain currently has 64 stores operating in US East Coast cities (primarily in Philadelphia, New York, New Jersey). American retail also has its own online store.
In the future, all these stores will go under the Snipes brand, which belongs to the Deichmann group since 2011 and has been actively developing since then. Retail Snipes is a multi-brand shoe and sportswear store. The retail network of the brand has more than 230 stores operating in nine European countries; Snipes has the same target audience as that acquired by the Deichmann KicksUSA group.
“We made significant investments in the US market, because, relying on our long-term study of this market, we are convinced that we can be successful in it, in a segment that promises sustainable growth in the long term,” commented Heinrich Deichmann on the largest acquisition in history your company.