Market study shoes

Market study shoes

Clothing and Footwear Specialist Retailers – Germany Euromonitor International : Country Sector Briefing January 2011 List of Contents and Tables Headlines 1 Trends 1 Channel Formats 2 Chart 1 Clothing and Footwear Specialist Retailers: Kik in Hanover 2 Chart 2 Clothing and Footwear Specialist Retailers: C&A in Hanover 3 Chart 3 Clothing and Footwear Specialist Retailers: H&M in Hanover 3 Chart 4 Clothing and Footwear Specialist Retailers: Deichmann in Hanover 4 Chart 5 Clothing and Footwear Specialist Retailers: Gortz in Frankfurt 5 Chart 6 Clothing and Footwear Specialist Retailers: Peek & Cloppenburg in Frankfurt 5

Chart 7 Clothing and Footwear Specialist Retailers: Salamander in Frankfurt 6 Channel Data 6 Table 1 Clothing and Footwear Retailers: Value Sales, Outlets and Selling Space 2005-2010 6 Table 2 Clothing and Footwear Retailers: Value Sales, Outlets and Selling Space: % Growth 2005-2010 7 Table 3 Clothing and Footwear Retailers Company Shares by Value 2006-2010 7 Table 4 Clothing and Footwear Retailers Brand Shares by Value 2007-2010 7 Table 5 Clothing and Footwear Retailers Brand Shares by Outlets 2007-2010 8 Table 6 Clothing and Footwear Retailers Brand Shares by Selling Space 2007-2010 9

Table 7 Clothing and Footwear Retailers Forecasts: Value Sales, Outlets and Selling Space 2010-2015 9 Table 8 Clothing and Footwear Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2010-2015 9 Clothing and Footwear Specialist Retailers in Germany Headlines Sales of clothing and footwear specialist retailers increase by

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1% in current value terms to reach €30. 0 billion in Germany in 2010 Despite the unfavourable economic background, this is the second year in a row with positive growth C&A Mode, H&M Hennes & Mauritz and Deichmann-Schuhe remain the largest players in a rather fragmented channel

By 2015, sales of clothing and footwear specialist retailers are expected to decline to €29. 6 billion in constant terms Trends Despite the global economic and financial crisis and the subsequent recession, consumer confidence in Germany remains comparatively good in general, and clothing and footwear is one of the areas in which consumers do not seem to have cut back expenditure to a noticeable degree. Therefore, in 2009 and 2010, retail value sales of clothing and footwear specialist retailers increased in Germany, although the growth rates were – at 1% – not very high.

At 32,414, the number of outlets in Germany also increased by 1% in 2010, as did the sales area of clothing and footwear specialist retailers. Similar to retail value sales, the development of outlet numbers and sales area was also quite unexpected, since on the one hand, with more than 32,000 outlets, the channel has almost reached saturation, and on the other hand, fewer outlets than planned were opened, since against a background of crisis, banks became more reluctant to offer business loans.

The majority of outlets focus on the sale of clothing, with complementary sales of accessories such as fashion jewellery, handbags and belts, for example. However, there are also a large number of footwear chains present in the channel, most of which also offer handbags and other leather accessories to complete their product range. Adult clothing is much more important than children’s clothing, which of course is no surprise, bearing in mind the low and constantly declining birth rate in Germany.

Overall, the channel remains very fragmented as far as company shares is concerned, with the biggest players, C&A Mode, H&M Hennes & Mauritz and Deichmann-Schuhe, reaching shares of between 6% and 10% of value sales in 2010. All three have a nationwide presence, with many outlets and a broad product range. Furthermore, they enjoy high awareness and a good reputation amongst German consumers. The biggest increases in terms of value share in the channel in 2010 were seen by H&M and

Deichmann-Schuhe. On the one hand, both continued their expansion strategies in Germany and opened new outlets, and on the other hand they combine low, attractive prices, as well as good value for money, with high quality and fast product cycles. Apart from these two, several other companies were also able to improve their competitive positioning in 2010 through various measures. During 2010, none of the major competitors in the channel lost significant ground, for two reasons.

First of all, during uncertain times an increasing number of consumers tends to turn towards brands, not only regarding products, but also regarding retailers. Secondly, the bankruptcy of the Arcandor subsidiary Quelle, which sold a considerable amount of clothing and footwear until late 2009, meant that considerable additional sales were up for grabs in 2010. Due to the huge number of competitors and outlets, many different approaches can be observed in Germany, including all kinds of unique selling propositions.

These include price, value for money, product range, customer service, store design, loyalty schemes, credit facilities and many others. The most important for German consumers is value for money, which is relevant for the whole price spectrum. Overall, the retail environment for clothing and footwear in Germany remains highly fragmented, with a large number of both domestic and international chains present in the market. However, in terms of outlet numbers, the five largest chained retailers in clothing and footwear specialist retailers continued to be domestic companies.

In value terms, however, international chains clearly dominate, with C&A and H&M together accounting for a considerable share of total revenue. During the later part of the review period, and this was no surprise, bearing in mind the maturity and saturation of the channel, there were no key new entrants which had a significant impact. The last important entrant to the channel was the US American chain TK Maxx, which entered the German market in 2007, and already had 35 outlets in 2010.

TK Maxx’s business concept of offering last season’s branded goods at discount prices is likely to arouse German consumers’ interest, leading to rapid growth in the medium term. Over the forecast period to 2015, retail value sales of clothing and footwear specialist retailers are expected to decline slightly in constant value terms, to €29. 6 billion. As discussed above, growth opportunities will continue to be very limited for the mature and saturated channel, and what one competitor will be able to win in terms of revenue will most likely come from another competitor, and not from additional consumption.

Those retailers which are able to offer a clear, unique, consumer-relevant positioning on the one hand, and – whatever this positioning is – good value for money on the other hand, will be able to perform well over the forecast period. All retailers which fail in one (or both) of these areas are likely to underperform over the next five years. In particular, smaller outlets will be under pressure, since they also have a higher percentage of operating costs. Channel Formats Chart 1 Clothing and Footwear Specialist Retailers: Kik in Hanover Source: Euromonitor International Chart 2 Clothing and Footwear Specialist Retailers: C&A in Hanover

Source: Euromonitor International Chart 3 Clothing and Footwear Specialist Retailers: H&M in Hanover Source: Euromonitor International Chart 4 Clothing and Footwear Specialist Retailers: Deichmann in Hanover Source: Euromonitor International Chart 5 Clothing and Footwear Specialist Retailers: Gortz in Frankfurt Source: Euromonitor International Chart 6 Clothing and Footwear Specialist Retailers: Peek & Cloppenburg in Frankfurt Source: Euromonitor International Chart 7 Clothing and Footwear Specialist Retailers: Salamander in Frankfurt Source: Euromonitor International Channel Data

Table 1 Clothing and Footwear Retailers: Value Sales, Outlets and Selling Space 2005-2010 2005 2006 2007 2008 2009 2010 Value sales EUR million 29,380. 6 30,350. 2 30,623. 4 29,551. 5 29,812. 8 30,036. 4 Outlets 31,171. 0 30,936. 0 31,732. 0 32,050. 0 32,211. 0 32,414. 0 Selling Space ‘000 sq m 17,620. 9 17,550. 5 17,926. 1 18,257. 7 18,458. 6 18,604. 4 Source: Euromonitor International from official statistics, trade associations, trade press, company research, trade interviews, trade sources Table 2 Clothing and Footwear Retailers: Value Sales, Outlets and Selling Space: % Growth 2005-2010 growth 2009/10 2005-10 CAGR 2005/10 TOTAL Value sales EUR million 0. 8 0. 4 2. 2 Outlets 0. 6 0. 8 4. 0 Selling Space ‘000 sq m 0. 8 1. 1 5. 6 Source: Euromonitor International from official statistics, trade associations, trade press, company research, trade interviews, trade sources Table 3 Clothing and Footwear Retailers Company Shares by Value 2006-2010 % retail value rsp excl sales tax Company 2006 2007 2008 2009 2010 C&A Mode KG 8. 9 9. 2 9. 9 9. 9 10. 0 H&M Hennes & Mauritz BV 6. 5 6. 6 7. 8 8. 3 8. 6 & Co KG Deichmann-Schuhe GmbH & 4. 1 4. 2 4. 8 5. 5 5. 7

Co Vertriebs KG Peek & Cloppenburg 4. 9 4. 9 5. 0 4. 9 5. 0 Dusseldorf KG Tengelmann 2. 3 2. 6 2. 9 3. 1 3. 2 Warenhandelsgesellschaft- OHG Takko Holding GmbH 2. 2 2. 3 2. 5 2. 6 2. 7 New Yorker SHK Jeans GmbH 1. 9 2. 1 2. 3 2. 4 2. 5 Ernsting’s GmbH 1. 7 1. 8 2. 0 2. 1 2. 2 NKD Vertriebs GmbH 1. 5 1. 6 1. 7 1. 9 2. 0 Reno Fashion ; Shoes GmbH 1. 6 1. 6 1. 7 1. 8 1. 9 Peek ; Cloppenburg 1. 6 1. 6 1. 7 1. 7 1. 7 Hamburg KG Esprit de Corp GmbH 1. 6 1. 6 1. 7 1. 6 1. 6 s. Oliver Bernd Freier 1. 0 1. 1 1. 2 1. 4 1. 4 GmbH ; Co KG Adler Modemarkte GmbH 1. 5 1. 5 1. 4 1. 3 1. 3

Zara Deutschland GmbH 0. 9 1. 0 1. 0 1. 2 1. 2 Ludwig Gortz GmbH 0. 9 1. 0 1. 0 1. 0 1. 1 Benetton Deutschland GmbH 1. 1 1. 1 1. 2 1. 0 1. 0 BONITA GmbH ; Co KG 0. 9 0. 9 0. 9 0. 9 0. 9 SinnLeffers AG 1. 6 1. 6 0. 9 0. 9 0. 9 Charles Vogele Holding AG 1. 0 0. 9 0. 9 0. 9 0. 9 Others 52. 0 50. 8 47. 6 45. 5 44. 2 Total 100. 0 100. 0 100. 0 100. 0 100. 0 Source: Euromonitor International from official statistics, trade associations, trade press, company research, trade interviews, trade sources Table 4 Clothing and Footwear Retailers Brand Shares by Value 2007-2010 % retail value rsp excl sales tax

Brand Company 2007 2008 2009 2010 H;M H;M Hennes ; Mauritz BV 6. 6 7. 8 8. 3 8. 6 ; Co KG C;A C;A Mode KG 6. 8 7. 4 7. 5 8. 1 Deichmann Deichmann-Schuhe GmbH ; 4. 2 4. 8 5. 5 5. 7 Co Vertriebs KG Peek ; Cloppenburg Peek ; Cloppenburg 4. 9 5. 0 4. 9 5. 0 Dusseldorf KG Kik Tengelmann 2. 6 2. 9 3. 1 3. 2 Warenhandelsgesellschaft OHG Takko Takko Holding GmbH 2. 3 2. 5 2. 6 2. 7 New Yorker New Yorker SHK Jeans GmbH 2. 1 2. 3 2. 4 2. 5 Ernsting’s Family Ernsting’s GmbH 1. 8 2. 0 2. 1 2. 2 NKD NKD Vertriebs GmbH 1. 6 1. 7 1. 9 2. 0 Kidstores C;A Mode KG 2. 4 2. 4 2. 1 1. Reno Reno Fashion ; Shoes GmbH 1. 6 1. 7 1. 8 1. 9 Peek ; Cloppenburg Peek ; Cloppenburg 1. 6 1. 7 1. 7 1. 7 Hamburg KG Esprit Esprit de Corp GmbH 1. 6 1. 7 1. 6 1. 6 s. Oliver s. Oliver Bernd Freier 1. 1 1. 2 1. 4 1. 4 GmbH ; Co KG Adler Adler Modemarkte GmbH 1. 5 1. 4 1. 3 1. 3 Zara Zara Deutschland GmbH 0. 9 1. 0 1. 1 1. 2 Gortz Ludwig Gortz GmbH 1. 0 1. 0 1. 0 1. 1 Benetton Benetton Deutschland GmbH 1. 1 1. 2 1. 0 1. 0 Bonita BONITA GmbH ; Co KG 0. 9 0. 9 0. 9 0. 9 SinnLeffers SinnLeffers AG 1. 6 0. 9 0. 9 0. 9 Others 51. 8 48. 7 46. 7 45. 1 Total 100. 0 100. 0 100. 0 100. 0

Source: Euromonitor International from official statistics, trade associations, trade press, company research, trade interviews, trade sources Table 5 Clothing and Footwear Retailers Brand Shares by Outlets 2007-2010 sites/outlets Company 2007 2008 2009 2010 Kik Tengelmann 2,100. 0 2,205. 0 2,342. 0 2,488. 0 Warenhandelsgesellschaft OHG Ernsting’s Family Ernsting’s GmbH 1,350. 0 1,395. 0 1,422. 0 1,450. 0 Deichmann Deichmann-Schuhe GmbH ; 1,044. 0 1,107. 0 1,192. 0 1,235. 0 Co Vertriebs KG NKD NKD Vertriebs GmbH 925. 0 950. 0 1,061. 0 1,150. 0 Takko Takko Holding GmbH 850. 0 900. 0 950. 0 985. 0 s. Oliver s.

Oliver Bernd Freier 410. 0 440. 0 518. 0 532. 0 GmbH ; Co KG Reno Reno Fashion ; Shoes GmbH 492. 0 500. 0 505. 0 510. 0 Bonita BONITA GmbH ; Co KG 495. 0 500. 0 503. 0 505. 0 Street One Street One GmbH 308. 0 355. 0 380. 0 400. 0 C;A C;A Mode KG 305. 0 314. 0 346. 0 388. 0 H;M H;M Hennes ; Mauritz BV 311. 0 335. 0 355. 0 375. 0 ; Co KG Esprit Esprit de Corp GmbH 315. 0 316. 0 317. 0 318. 0 Charles vogele Charles Vogele Holding AG 321. 0 323. 0 314. 0 304. 0 New Yorker New Yorker SHK Jeans GmbH 317. 0 323. 0 301. 0 301. 0 Kienast Kienast Schuhhandels 255. 0 260. 0 265. 0 270. 0

GmbH ; Co KG Gortz Ludwig Gortz GmbH 215. 0 220. 0 230. 0 245. 0 Orsay Orsay GmbH 249. 0 242. 0 222. 0 226. 0 Tom Tailor Tom Tailor Holding AG 130. 0 169. 0 199. 0 209. 0 Gerry Weber Gerry Weber 146. 0 178. 0 178. 0 180. 0 International AG Pimkie PMD Moden Handels GmbH 167. 0 173. 0 176. 0 179. 0 Others Others 21,027. 0 20,845. 0 20,435. 0 20,164. 0 Total Total 31,732. 0 32,050. 0 32,211. 0 32,414. 0 Source: Euromonitor International from official statistics, trade associations, trade press, company research, trade interviews, trade sources Table 6 Clothing and Footwear Retailers Brand Shares by Selling Space 2007-2010 urface area ‘000 sq m Company 2007 2008 2009 2010 Kik Tengelmann 925. 9 1,004. 4 1,125. 1 1,206. 5 Warenhandelsgesellschaft OHG C&A C&A Mode KG 874. 0 899. 0 997. 9 1,123. 1 Takko Takko Holding GmbH 579. 8 614. 5 650. 1 673. 9 H&M H&M Hennes & Mauritz BV 510. 0 543. 0 571. 2 600. 2 & Co KG Peek & Cloppenburg Peek & Cloppenburg 536. 0 527. 5 518. 5 535. 6 Dusseldorf KG NKD NKD Vertriebs GmbH 371. 0 380. 0 425. 2 462. 9 Esprit Esprit de Corp GmbH 409. 5 410. 8 412. 0 414. 1 Deichmann Deichmann-Schuhe GmbH & 308. 3 329. 3 357. 5 375. 5 Co Vertriebs KG New Yorker New Yorker SHK Jeans GmbH 332. 338. 4 320. 5 320. 5 s. Oliver s. Oliver Bernd Freier 205. 0 225. 0 269. 4 279. 0 GmbH & Co KG Ernsting’s Family Ernsting’s GmbH 248. 0 261. 8 264. 9 268. 9 Charles vogele Charles Vogele Holding AG 249. 8 253. 5 247. 5 240. 5 Gortz Ludwig Gortz GmbH 200. 0 207. 9 221. 2 237. 6 Peek & Cloppenburg Peek & Cloppenburg 209. 0 211. 0 211. 3 211. 2 Hamburg KG Benetton Benetton Deutschland GmbH 245. 0 235. 0 220. 1 210. 9 Kidstores C&A Mode KG 232. 0 232. 0 216. 7 196. 9 Pimkie PMD Moden Handels GmbH 152. 8 157. 5 159. 7 162. 2 Reno Reno Fashion & Shoes GmbH 145. 7 148. 8 150. 6 152. 9

Adler Adler Modemarkte GmbH 158. 0 158. 0 149. 5 148. 8 SinnLeffers SinnLeffers AG 260. 5 110. 9 110. 9 110. 9 Others Others 10,773. 1 11,009. 5 10,858. 6 10,672. 3 Total Total 17,926. 1 18,257. 7 18,458. 6 18,604. 4 Source: Euromonitor International from official statistics, trade associations, trade press, company research, trade interviews, trade sources Table 7 Clothing and Footwear Retailers Forecasts: Value Sales, Outlets and Selling Space 2010-2015 2010 2011 2012 2013 2014 2015 Value sales EUR million 30,036. 4 29,835. 1 29,688. 9 29,599. 8 29,564. 3 29,599. 8 Outlets 32,414. 0 32,667. 0 32,944. 33,172. 0 33,344. 0 33,478. 0 Selling Space ‘000 sq m 18,604. 4 18,762. 5 18,948. 3 19,116. 9 19,237. 4 19,341. 2 Source: Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources Table 8 Clothing and Footwear Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2010-2015 % growth 2014/15 2010-15 CAGR 2010/15 TOTAL Value sales EUR million 0. 1 -0. 3 -1. 5 Outlets 0. 4 0. 6 3. 3 Selling Space ‘000 sq m 0. 5 0. 8 4. 0 Source: Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources