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At the end of the year, Peek & Cloppenburg takes stock and presents its plans for 2019, focusing on the expansion of the Omnichannel concept and customer requirements.
Peek & Cloppenburg is leaving the 2017 financial year satisfied and remains true to its chosen path. The company is actively countering the general trend in textile retailing, which is characterised by declining customer frequency, declining sales and low productivity per unit area. The focus is always on the wishes and needs of customers and the company’s Omnichannel concept.
Fiscal year 2017
Despite the current challenges in the textile industry, Peek & Cloppenburg, Düsseldorf, achieved sales revenues of EUR 1,490 million (net) in the previous year. The Group headquarters in Düsseldorf and Vienna managed a total of 148 stores in 15 countries in the 2017 financial year. EBITDA amounted to 86 million euros with an EBITDA margin of 5.8 percent. The equity ratio was 40%. In 2017, P&C had an average of 12,700 employees.
Peek & Cloppenburg KG, Vienna, posted double-digit growth. Net sales of EUR 735 million were more than 13% up on the previous year.
“The year 2018 also presented the entire fashion industry with major challenges, not least due to extreme weather phenomena. Peek & Cloppenburg expects similar figures as in 2017, but is very confident about the coming Christmas business”, the company explains.
Stationary retail remains indispensable for Peek & Cloppenburg in the future as well
Although P&C’s online shops are successful, stationary retail remains fundamental to the business. The company considers personal and competent service to be irreplaceable for consumers. For this reason, around 20% of the space has been modernised in the past two years. In addition, new stores were opened at five locations in Eastern Europe.
In 2018, the store in Munich Riem was reopened and extensions and conversions were carried out in Recklinghausen, Erlangen, Wiesbaden, Munich Pep and Budapest. Further stores are planned in Germany, the Baltic States and Eastern and Southern Europe up to and including 2020.
New space concepts to increase customer satisfaction
In order to be able to meet customer wishes even better, evaluations of the sales outlets are being planned. Adjustment measures are to be carried out on the basis of these evaluations. This is primarily a reaction to the sales development of the large stores, which fell short of expectations. It is important for the company “to address the problems in the inner cities openly” and to find solutions in order to increase space productivity. Plans include downsizing, subletting and cross-segment pop-up areas. At the same time, the sales areas are to function as showrooms and accommodate a broad range of products. “Many customers have already informed themselves online in advance and would like to touch the goods on site and see the fit before they finally decide to buy,” the company P&C announced in its latest press release.
E-commerce is becoming increasingly important
P&C’s e-commerce revenues continued to rise in 2017. As a result, expansion is also being driven forward in this important sales channel. The Group currently has web shops in Germany, Austria and Poland. A further web shop in the Netherlands and the revision of the online shop of the subsidiary Anso’s Herrenhaus KG are planned.
In a survey conducted by Fashion ID GmbH & Co. KG, 6000 customers were asked about their wishes. The company would like to pursue the customer’s wishes: “An interesting result is that customers would especially like to have the opportunity to have articles stored online in the store using Click & Reserve. This tool is to be included in the service offering of the online stores in 2019,” Fashion ID GmbH & Co. KG.
Increasing digitalization for process optimization
The expansion of digitization is to be intensified in 2019. While in 2017 only the digitization of the supply chains of private labels was started, the third-party brands are now also included.
A central communication platform ensures that goods purchased worldwide can be controlled without media disruptions and that global procurement processes can be made transparent and flexible. The aim is to continuously improve planning, speed and availability.
The increasingly digitized process chain is supported by innovative 3D technology. Since 2014, the International Brands Company (IBC) has been running a pilot project in the area of product development for its own brands. “Designers and technical designers work closely together on product development. Not only do they experiment with colours, patterns, fabrics and cuts, they also see how a garment in the desired design falls on the human body. This means that 3D technology already saves one or two physical samples and thus reduces time and costs,” explains Peek & Cloppenburg.
“In the coming year, Peek & Cloppenburg will also be concentrating increasingly on its online marketing. Consistent customer orientation remains the most important pillar for Peek & Cloppenburg’s continued success,” the textile company concludes.
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Link: latest press releases from Peek & Cloppenburg