Adler aims to triple ecommerce revenue by 2023

After witnessing improvements in profitability following the launch of “Strategy 2020”, Adler Modemärkte AG has announced an update about expansion of its online business. The company said in a statement that the goal is to more than triple ecommerce revenue by 2023.

“So far, Adler has hardly been able to benefit from the growing online market. With a new strategy, a new shop system and targeted marketing, we are now setting our sights firmly on this goal,” said Carmine Petraglia, CCO of Adler Modemärkte AG.

Adler rolls out online marketing strategy

At the beginning of 2019, Adler began implementing the necessary groundwork, firstly by reallocating marketing expenditures to stabilise online revenue, which the company said, has resulted in rise in visitor, customer and order numbers on the Adler online shop. Online revenue increased in the double-digit percentage range from the second quarter of 2019.

The company added that it will invest over 10 million euros on the expansion of Adler’s e-commerce activities until the year 2023. With a positive net liquidity of 54.5 million euros as at June 30, 2019, Adler said, it is equipped financially for these investments into the future. The company will implement a new online shop system in 2020, which it plans to roll out to customers over the course of 2021.

Adler further added that the new shop system and the ensuing infrastructure upgrade will give the company further room to leverage revenue potential, by including secondary and tertiary brands or internationalising the online business. The goal in the medium to long term is to position Adler as a network platform for its target groups and cooperating with established online players is also part of the plan. Adler recently launched sales channels on Otto.de and Amazon.

Picture:Facebook/Adler Modemarkte AG