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s.Oliver sales up with 7.8%

By FashionUnited

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German fashion and lifestyle company s.Oliver achieved group sales of 816 million Euros in 2008 compared to 757 million in 2007. The company is based in Rottendorf in Franconia and realised an increase of 7.8 percent. Despite the economic crisis, significant investments were made in the interest of the company's growth. In the last business year, s.Oliver was focused on the development of its retail business. In comparison with 2007 the retail sales division developed with 36 branch openings in strategically important locations and two franchise takeovers. In the previous year the company had15 branch openings, of which two franchise takeovers.

The verticalization and company internationalization that had been accelerated in previous years, plus the associated measures for the optimization of all the business processes, had a positive affect on the development of sales. Of particular note for 2008, were the significant investments in personnel (up 16.4% on the previous year; previous year 22.4%), and systems intended to secure the sales potential for the future. Personnel investments were brought forward and other export markets such as Poland developed.

s.Oliver's largest sales proportion of 54.6% was in wholesale. Its continued growth is due to the extension of its system business. In the retail division, the new openings and the development and linking of the online shop to new markets places all helped to increase sales.

Thomas Steinhart, Chief Financial Officer, makes the following forecast for 2009: "We completed the first half- year with increases in the single-figure percentage range. Thanks to high-caliber new openings such as the flagship stores on the Stephansplatz in Vienna and at the Zeil in Frankfurt, we have been able to increase our retail sales despite the currently difficult economic climate. We are also expecting an increase in sales for the second half-year thanks to successful order figures."

Overall, the company is planning to open 88 new stores both at home and abroad in the current year. s.Oliver is planning further investments in its own stores and to increase the international expansion of its market position in 2010.

s.Oliver was founded by company owner Bernd Freier in 1969, and is one of Europe's biggest fashion and lifestyle companies with an international workforce of 5500 people. s.Oliver products can be found in over 30 countries all over the world. The s.Oliver Group currently has 155 of its own stores and 370 stores with partners, and is represented in 2360 shops and 2550 sales areas. s.Oliver is celebrating its 40th anniversary in 2009.

Image: s.Oliver HQ

S.Oliver